The nation needs to be aware of inflation while monetary policy remains “very accommodative,” Federal Reserve Bank of Philadelphia president Charles Plosser said Wednesday.

In addition to weaker-than-forecast growth in 2011, overall inflation was 3%, above the 2% Plosser said he expected, mainly from large increases in food and energy prices early in the year. Core inflation was up 2.2%. Plosser said he expects inflation to moderate in the near term.

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