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

By CHRISTOPHER RUGABER
AP Economics Writer

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. Friday’s report showed that an index that excludes volatile food and energy costs rose 0.2% from March to April, down from 0.3% in the previous month. Measured from a year earlier, such so-called “core” prices climbed 2.8% in April, the same as in March. Overall inflation climbed 0.3% from March to April, the same as in the previous month, and 2.7% from a year earlier. April’s year-over-year inflation figure was also unchanged from March.