Monthly US inflation to return to 0.2-0.3 pct in second half of 2022: Yellen

US Treasury Secretary Janet Yellen said Monday she expects current record-high inflation to ease, with monthly rates falling back to 0.2 or 0.3 percent in the second half of 2022. 

“I’m hoping and expecting in the second half of next year, to see monthly CPI (consumer price index) rates coming in more in the range of two tenths or three tenths,” Yellen told an annual meeting of the Greater Providence Chamber of Commerce in the state of Rhode Island.

“I think in the second half of next year, we’ll begin to see inflation subside and the way you’ll be able to see that is by looking at monthly inflation rates,” added Yellen, who addressed the forum virtually.