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US Fed's favored inflation measure cools slightly in May
US Fed's favored inflation measure cools slightly in May
Business and Economy
by  AFP

The US Federal Reserve's favored measure of inflation eased slightly in May, according to government data published Friday, as goods prices cooled. Stripping out volatile food and energy prices, the closely watched "core" measure of inflation eased to an annual rate of 2.6 percent in May, in line with expectations -- a sign that underlying prices cooled further.