Despite fall in joblessness, US inflation may not rise

Washington

FOR several months, they have been predicting that inflation was around the corner. After all, the Great Recession was over and the recovery of the American economy was accelerating slowly but surely.

Indeed, reflecting the growth in the economy, the unemployment rate has been falling steadily, and as every student of economics knows, that was going to put upward pressure on wages which in turn would trigger a rise in prices, creating the inevitable inflationary pressures.