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If you go back to say 2013 and consider the until this year, the reasons why inflation was low are not hard to understand its a combination of slack in the labor market, declines in Energy Prices and strong dollar that pulled down import price inflation. So, whats important in determining inflation Going Forward is Inflation Expectations by some by many of professional forecasters those have been rock solid we do also look at Household Expectations which have come down some. Marketbased measures of inflation compensation as we mentioned in the statement, they have declined, and they have been snabl recent months, but they have declined to levels that are low by historical standards. That might suggest that
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