February 12, 2015 / 10:43 PM / 3 years ago

Oil not only driver behind U.S. inflation slide - NY Fed's Cumming

LONDON, Feb 12 (Reuters) - The recent slump in oil prices is not the only driver behind the slide in U.S. inflation, New York Federal Reserve First Vice President Christine Cumming said on Thursday.

"Global demand is slow," Cumming said at a banking dinner in London. "Even before the recent drop in oil prices, inflation was low and that was quite a surprise."

U.S. inflation hit 0.8 percent year on year in January while the month on month reading fell to -0.4 percent.

Cumming is due to retire in June. The New York Fed is the only regional bank not to have a permanent voting seat on the U.S. central bank's policy setting committee.

Reporting by Marc Jones and

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