An inflation gauge closely tracked by the Federal Reserve rises at slowest pace this year

By
WASHINGTON —  A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year.Friday’s report from the Commerce Department showed that an index that excludes volatile food and energy costs rose 0.2% from March to April, down from a rise of 0.3% the previous month. It was the mildest increase so far this year.Measured from 12 months earlier, such so-called “core” prices climbed 2.8% in April, the same as in March. Overall inflation increased 0.3% from March to April, the same as the previous month, and 2.7% from a year earlier. The figures could provide reassurance for Fed officials, who aggressively raised interest rates to fight inflation, that price pressures are easing. Chair Jerome Powell has said he expects inflation, which picked up in the first three months of 2024, to resume cooling …

See the entire article on inflation, or, read more Arizona real estate investing news. It’s your call!