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By one measure, the U.S. economy is already close to slaying the price inflation that has bedeviled it for the better part of two years.Forecasts called for 12-month consumer price increases to slow from 4% in May to 3.1% in June — just about 1 percentage point above the Federal Reserve’s 2% inflation target.But the rest of the story for much of the economy — namely, the “core” inflation figure that reflects everything except food and energy prices — might be more difficult for consumers to bear, according to Riccardo Trezzi, lecturer at the University of Geneva and founder of a consultancy that focuses on underlying inflation.“If you want to hit a [2% core inflation] target, unfortunately I suspect an unemployment pickup will be necessary,” Trezzi said.The unemployment rate in the U.S. tumbled dr …
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