US Treasury Secretary Janet Yellen told Reuters on Friday it was good to see the latest US inflation data suggesting upward pressures are easing, but added it was unclear whether inflation had reached a turning point to keep going down.
“I don’t know if this is a tipping point,” Yellen said in an interview in New Delhi, a day after October US consumer price index data posted its smallest increase since January, with a rate annual rate of 7.7%.
“I never extract more from a piece of data. It’s a piece of data,” Yellen said of the Commerce Department report. “It was certainly nice to see an inflation report that came in at the low end of expectations rather than the high end and, you know, we’ve seen the first signs along the supply chain that inflation could be declining.”