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The gold price is also seen by some economists as a leading indicator of inflation.
The government reported that the consumer price index, an indicator of inflation, rose 4.4 percent in October from the same month in 2009.
In response to questions yesterday, the Fed chairman reiterated his view that the sharp rise in commodity prices during the last year was unlikely to be a serious indicator of inflation.
It mandates common-sense reforms to the federal workforce, which will help bring its compensation in line with private-sector benefits, and implements a chained consumer price index across the government, a more accurate indicator of inflation.
Dan Greenhaus, chief economic strategist at Miller Tabak & Company, an institutional stock trading firm, said that commodity prices remained an important leading indicator of inflation, and he said that Mr. Bernanke also was sanguine about rising housing prices during the credit boom.
The best indicator of inflation is gold.
Similar(49)
But there are other indicators of inflation expectations.
Inflation has been elevated, and some indicators of inflation expectations have risen.
Nothing on (b) yet, and market indicators of inflation expectations are still too low.
Although readings on core inflation have improved somewhat, energy and other commodity prices have increased and some indicators of inflation expectations have risen in recent months.
Inflation has been high, spurred by the earlier increases in the prices of energy and some other commodities, and some indicators of inflation expectations have been elevated.
More suggestions(17)
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