WASHINGTON (AP) — 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. An index that excludes volatile food and energy costs rose 0.2% from March to April, down from 0.3% in the previous month. It was the mildest such 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. The latest figures could provide some tentative reassurance for Fed officials, who aggressively raised interest rates to fight inflation, that price pressures are easing.
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