US's Snow notes global inflation rising

ST PETERSBURG, Russia, June 10 (Reuters) U.S. Treasury Secretary John Snow said on Saturday that global central bankers needed to take note of the fact that inflation appeared to be on the rise and act appropriately.

''We have seen inflation picking up a bit but not an an alarming rate; it is important central bank governors take note of that,'' Snow told a news conference following a Group of Eight finance ministers' meeting.

Central banks in the world's biggest economies, including in the United States, have been increasing interest rates in order to keep inflation in check.

In response to a question, Snow said he had discussed with Russian Finance Minister Alexei Kudrin Russia's possible accession into the World Trade Organization and was hopeful it will soon be possible.

''I'm not forecasting it will be done but ... a lot of groundwork has been put in place,'' Snow said.

REUTERS MP KN1946