The Fed’s favorite inflation measure fell in April, but prices are still uncomfortably high

CNN

By Anneken Tappe, CNN Business

Another key tracker of consumer prices took a breather in April, the Commerce Department reported Friday.

The price index measuring Personal Consumption Expenditures rose by 6.3% year over year in April. It was a slower pace than in March.

Stripping out more volatile items like food and energy, core PCE inflation, which is the Federal Reserve’s preferred measure of consumer prices, rose by 4.9% over the same period, slightly less than in March.

This is a developing story. It will be updated.

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