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Judging by several key economic indicators, it's reasonable to assume that inflation will remain steady at a moderate pace. US GDP growth in the first quarter quickened to a solid 3.2% increase and the labor market expanded at a strong pace in April. Later this year, the expansion will become the longest on record for the US. Such numbers suggest that inflation should be stable if not accelerating. But for reasons that no one fully understands, pricing pressure has been tepid and may be poised to slow further in the months ahead.