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The road to the Federal Reserve’s goal of 2% inflation has been long and winding, and it seems it will continue that way.
The cooling in the economy has contributed to softer price increases in the headline numbers, but inflation remains fairly stubborn. April’s numbers showed that inflation was moving sideways, neither accelerating or decelerating. From this time a year ago, headline inflation is up 4.9%. Month-over-month, headline inflation increased 0.4%. Core inflation rose at a faster pace, up 5.5% from this time last year.
Looking at annual rates in the three months through April, core inflation – excluding