US inflation to take time to drop – Fed official

WASHINGTON, D.C.: While there are some signs that global and domestic inflation pressures are easing, high prices have spread, making it harder to quell these quickly, a top United States central banker said on Monday (Tuesday in Manila).

Continued strong demand for goods and for workers will keep pressure on inflation — which has hit its highest level in 40 years — New York Federal Reserve (Fed) Bank President John Williams said.