The high cost of renting housing in the United States has yet to be fully impacted by anti-inflation measures, suggesting inflation could rise further, the Bank of America president said on Wednesday. Cleveland Fed Loretta Mester.

“I’m not even convinced that inflation has peaked yet,” Mester said in a webcast with Market News International, assuring her attention is on the services sector.

“That tends to be much more persistent and rents are still very high and take a while to show up in core inflation. It’s still going to show up more on that side… I haven’t seen much to suggest it’s starting to come down “, he added.