Inflation in the nation is currently “uncomfortably high” and “worrisome,” Federal Reserve Bank of Atlanta president Dennis P. Lockhart said yesterday.

“No matter how you measure it, the aggregate inflation we are experiencing in the United States at the moment is uncomfortably high,” Lockkhart said according to prepared text of a speech released by the Fed. “Over the first half of this year, the CPI has risen at an annualized rate of nearly 5.5%. Over the same period, the PCE index has risen at an annualized rate of 4.5%. With the surge of energy prices in early summer, the annualized CPI for July was the highest in 17 years.”

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