• Tumbling lumber prices are a sign that strong inflation will be temporary, Bank of England boss says

    27 days ago - By Business Insider

    Lumber prices plummeted in June.
    Carolyn Cole/Getty Images
    The plunge in lumber prices is a sign strong inflation should fade, the Bank of England's governor said.
    Andrew Bailey is among the central bankers to argue that inflationary pressures should be temporary.
    Lumber prices soared but then tumbled 45% in June as sawmills upped production and demand slipped.
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    The dramatic fall in lumber prices in the last month is a sign that strong inflation will be temporary, the governor of the Bank of England said on Thursday...
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