For Federal Reserve Chair Janet Yellen, the current too-lowinflation rate is not only “transitory,” it's also“idiosyncratic.”

Aside from the plunge in oil, the head of the central bank thismonth chose to highlight two culprits for the subdued priceenvironment—medical care and non-market prices—which, combined,account for about 24 percent of the Fed's preferred inflationmeasure. By choosing to focus on two such quirky components, Yellenshowed that she and most of her colleagues remain confident theunhealthy lack of inflation is only temporary.

Officials this month were so sure prices would eventually risecloser to their 2 percent goal that theyraised the benchmark interest rate so they wouldn't have totighten too quickly once inflation did flare.

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