In America underlying inflation ran hotter in September, at 4%.

在美国，潜在的通货膨胀率在9月份更高，达到了4%。

America's underlying inflation rate, at 1.7%, remains below the Fed's target of 2%.

美国的潜在通胀率是1.7%，低于美联储2%的目标。

I've come up with something that I call the ecumenical underlying inflation.

我提出了一种我称之为普世基础通货膨胀的观点。

At the heart of this is not whether central bankers can bring down prices, but whether the underlying inflation dynamic has changed.

问题的核心不是央行官员能否压低价格，而是潜在的通胀动态是否发生了变化。

In research on Poland, published in late September, economists at Goldman Sachs found evidence that " underlying inflation momentum has picked up again" .

在 9 月下旬发表的对波兰的研究中，高盛的经济学家发现了“潜在通胀势头再次回升”的证据。

Consumer prices in the U.S. rose again in April, and measures of underlying inflation stayed high, a sign that further declines in inflation are likely to be slow and bumpy.

美国4月份消费者物价指数再次上涨，通胀潜在指标居高不下，这表明通胀的进一步下降可能是缓慢而坎坷的。

At the moment, that median measure of ecumenical underlying inflation - 3.4%, which, to Furman, indicates that there is not going to be a landing anytime soon.

目前，普世基础通胀的中位数为 3.4%，对弗曼来说，这表明通胀不会很快下降。

Lately, though, they have not: stripping out the volatile food and energy categories, underlying PCE inflation dived to 1.1% in March, while core CPI inflation has stabilised around 1.9% (see chart).

事与愿违，由PCE的BEA价格指数通货膨胀率下降到1.1%，由滚动CPI计算的通货膨胀率稳定在1.9%。