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US Fed's favored inflation measure accelerates, dimming rate cut hopes
US Fed's favored inflation measure accelerates, dimming rate cut hopes
Economy
by  AFP

The US central bank's favored measure of inflation accelerated last month, according to government data published Friday, pushing back the chances of an interest rate cut this summer. The data published Friday also show that personal income accelerated last month, rising by 0.5 percent in March from a month earlier, the Commerce Department said.