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Bernanke sees higher inflation as 'transitory'
U.S. Federal Reserve Chairman Ben Bernanke said late Monday that commodity prices are being driven primarily by global supply and demand. "Those prices are affecting the overall price indexes of the United States," he said. Bernanke added, however, that as long as inflation expectations remain stable and well anchored, "which in my view remains the case," and as long as commodity-price increases eventually stabilize, then this will not be reflected in a standard increase in inflation.