Janet Yellen, in an interview with Fox
Business ($FOX (-0.72%) )
said that the single biggest contributor to inflation will decline this year. However, she warned that the decline the inflation may not "proceed smoothly".
Yellen emphasized that the inflation may be a bumpy return to normality could lead to a bumpy return to normal. She went on to explain that she estimated that rentsthe biggest contributor to inflationwill fall this year.
In addition, Yellen expressed regret that she had previously said that inflation was temporary.
