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(Bloomberg) — Inflation in the US probably abated only gradually last month and retail sales rebounded, illustrating why the Federal Reserve is in no rush to lower interest rates.Most Read from BloombergThe core consumer price index, a measure that excludes food and fuel for a better picture of underlying inflation, is seen rising 0.3% in February from a month earlier after a 0.4% advance to start the year. The Labor Department will issue its CPI report on Tuesday.The price gauge is projected to have risen 3.7% from a year ago, which would mark the smallest annual advance since April 2021. While the year-over-year figure is well below the 6.6% peak reached in 2022, the pace of progress more recently has been modest.That squares with congressional testimony from Fed Chair Jerome Powell in the past week, who sai …
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