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To: IngotWeTrust who wrote (1292)	2/10/1998 11:46:00 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 1756

49r--Richmond Fed says local inflation seen picking up Manufacturing and service price rises in the fifth U.S. economic district remain tame, but a pickup in inflation is expected over the next six months, an economist at the Federal Reserve Bank of Richmond said on Tuesday. ''The price numbers remain very modest, both in the manufacturing sector and in the service sector,'' said the economist, Raymond Owens. ''However, if we look ahead to the next six months, both manufacturers and service sector producers expect a pickup, and a fairly pronounced pickup, in the level of inflation,'' he said. Owens said the manufacturing activity in the district remained robust, and businesses in the region expect a continued rise in wages. ''Basically, manufacturers are looking for a stronger (economic) environment, they're looking for some substantial wage pressures and they're looking for price pressures,'' he said. The Richmond Fed is responsible for the nation's fifth economic district, which encompasses the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia.