Posted AT 10:46 AM EST on 30/07/08
U.S. inflation to hit 6%: Rubin
Heavily subsidized energy in the Middle East will help drive the inflation rate in the United States to 6 per cent within six months, and prompt the U.S. Federal Reserve Board to go on a rate-hiking frenzy, CIBC chief economist Jeff Rubin predicts.
Despite the recent fall in oil prices, U.S. gasoline prices will resume their rise because of unabated demand for energy in OPEC countries, Mr. Rubin argues.
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