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US Fed's favoured inflation gauge ticks higher as fuel costs rise
The US central bank's favoured measure of inflation edged higher last month on the back of rising fuel prices, according to government data published on Friday (Mar 29), but a metric stripping out volatile food and energy prices continued to ease. The data suggest inflation is still broadly on the Federal Reserve's bumpy path toward its long-term target of two per cent, despite the recent uptick. But the higher top-line figure will likely cause concern at President Joe Biden's reelection campaign, as the Democratic incumbent seeks to convince still-sceptical consumers that the economy is heading in the right ... (full story)