As GDP growth picks up, underlying inflation is expected to rise.
一旦GDP加速增长，潜在通胀率可能会提升。
With capacity constraints starting to bite, underlying inflation is on the up.
随着产能约束开始起作用，基础通胀率开始抬头。
Underlying inflation in particular has yet to show clear signs of a more dynamic upward movement.
特别是底层通货膨胀尚未显示出更加动态的上升运动的明显迹象。
Despite the underlying inflation risks, a statistical quirk may push core inflation down in the coming months.
尽管有着潜在的通胀风险，一个统计特性可能降低将来几个月的核心通胀率。
In the euro zone underlying inflation and wage growth are both subdued and inflation expectations are under control.
在欧元区，潜在的通货膨胀和工资上调都受到了抑制，通胀预期也得到了控制。
Despite this, indicators of capacity usage and core inflation suggest underlying inflation remains constrained.
尽管如此，产能利用率的指标和核心通胀率暗示潜在通胀率仍保持受限制。
Prices of energy and other commodities have declined somewhat in recent months, and underlying inflation has trended lower.
近几个月，能源和其他商品价格已有所下滑，潜在通胀趋势下滑。
But with underlying inflation below central Banks' targets in many countries, and dropping, expectations could move down instead.
但是由于多国央行对基底通货膨胀率的有力控制，其下降态势也会降低通胀预期。
At a general level, the fact that underlying inflation picked up between 2005 and 2008, and then subsequently declined, is hardly surprising.
在一个通常的水平上，基本通胀在2005至2008的攀升和接下来下降的事实是不奇怪的。
That would be a mistake. In the euro zone underlying inflation and wage growth are both subdued and inflation expectations are under control.
在欧元区潜在通胀与工资增长都得到抑制，以及通胀预期也在控制中之时，这将是一个错误。
"By a number of measures underlying inflation has trended down over the past two years," Bernanke said without discussing the chance of deflation.
“通过一系列的措施，潜在的通货膨胀率在过去的两年中呈下降趋势。”伯南克表示，但他并未讨论通货紧缩的可能性。
The longer that the torrent of hot money continues and interest rates remain too low, the bigger the risk that underlying inflation will creep up.
低息利率和热钱流入持续的时间越长，不知不觉中潜在通胀的风险就将越来越大。
This is obvious from Graph 3 which shows the average fitted values of four of these models, along with the trimmed mean measure of underlying inflation.
从图3显示的其中四个这种模型的平均拟合值，与截尾平均法测量值在一起的对比，可以看出这是非常明显的。
Although commodity prices have risen, longer-term inflation expectations have remained stable, and measures of underlying inflation have been trending downward.
尽管商品价格已经上升，长期的通胀预期仍然保持稳定，潜在的通胀预估正在走低。
He instructed the Fed's research staff to strip the CPI of its so-called special factors and focus on a cleaner read of America's underlying inflation rate.
他指示Fed的研究人员将所谓的“特殊因素”从CPI中剔除，关注于“更纯粹”的美国“实际”通货膨胀率数据。
Core measures are certainly useful if they can efficiently strip out price changes that are likely to prove fleeting, without losing track of underlying inflation.
如果核心量度能够有效地剥离很可能证明是短暂的价格变化而不丢失潜在的通胀信息，那么核心量度就肯定是有用的。
Although "inflation continued to accelerate, we believe underlying inflationary pressures are dissipating quickly," wrote Yu Song of Goldman Sachs in June 2010.
高盛(Goldman Sachs)的宋宇在2010年6月份写道，虽然通胀仍在加速，但我们相信背后的通胀压力正在快速消失。
America's recovery faces the headwind of expiring fiscal stimulus at a time when underlying inflation has already slipped to around 1%; outright deflation cannot be ruled out.
当潜在的通胀水平已经降到1%左右时，美国经济的复苏却面临财政刺激结束的不利局面；因此不能排除发生通缩的可能性。
Last April, in fact, the European Central Bank began raising interest rates, even though it was obvious to most observers that underlying inflation was, if anything, too low.
事实上，今年4月，尽管在许多观察者看来基本通货膨胀率(如果存在的话)明显过低，欧洲央行却开始提高利率。
Broadly speaking, the housing component of the CPI shows the same general pattern as that in underlying inflation, although the recent moderation is less pronounced (Graph 6).
大体上说，CPI中房屋的组成部分显示出与基础通胀一样的走势，尽管最近的趋缓很少被公布。
Though commodity prices continue to rise, he said he expects them to 'level out' and expected underlying inflation to ease as the slower economy inhibits firms from raising wages and prices.
尽管大宗商品价格不断上涨，但他预计它们将逐步“趋平”，而且由于经济放缓制约了企业给员工加薪以及提高产品售价，潜在通胀将得到缓解。
'Though commodity prices continue to rise, he said he expects them to' level out 'and expected underlying inflation to ease as the slower economy inhibits firms from raising wages and prices.
尽管大宗商品价格不断上涨，但他预计它们将逐步“趋平”，而且由于经济放缓制约了企业给员工加薪以及提高产品售价，潜在通胀将得到缓解。
Signs that soaring commodity prices are feeding through to wage demands and underlying inflation have piled pressure on the Reserve Bank of India to respond by aggressively raising interest rates.
由高涨的大众商品价格导致的工资上涨需求和潜在通胀的迹象正在印度储备银行的身上施加着更大的压力，以迫使其以更大幅度的上调利率来应对这个问题。
In fact, the difference between the RBA's 18-month-ahead forecast for underlying inflation and the actual outcome over the year to September 2008 was the largest over the inflation-targeting period.
事实上，RBA对基本通胀18个月之前的预期和那年直到2008年九月的真实结果之间的差异，是自通胀目标管理期间以来最大的。
The underlying trend of inflation is still upwards.
通货膨胀的潜在趋势仍然是上升的。
Unfortunately, because this approach fails to deal with the underlying causes of inflation, wage and price controls eventually collapse, the hitherto-repressed inflation resurfaces.
不幸的是，由于这种方法未能解决通胀的根本原因，工资和价格控制最终崩溃，迄今为止受到压制的通胀再次出现。
Unfortunately, because this approach fails to deal with the underlying causes of inflation, wage and price controls eventually collapse, the hitherto-repressed inflation resurfaces.
不幸的是，由于这种方法未能解决通胀的根本原因，工资和价格控制最终崩溃，迄今为止受到压制的通胀再次出现。
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