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bingocreator| US core CPI slowed in April for the first time in six months

A measure of underlying U.S. inflation emerged in AprilbingocreatorThe first cooling in six months suggests that price pressures are only gradually weakening and provides support for the Federal Reserve's intention to keep interest rates high for longer.

bingocreator| US core CPI slowed in April for the first time in six months

Official data released Wednesday showed that the so-called core consumer price index, which excludes food and energy costs, rose 0.5 percent from Marchbingocreator.3%, with a year-on-year increase of 3.6%.

Economists believe that the core inflation rate better reflects the underlying inflation level than the overall CPI. Data from the U.S. Bureau of Labor Statistics showed that the latter rose 0.3% month-on-month and climbed 3.4% year-on-year. The report said housing and gasoline spending accounted for more than 70% of the increase.

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