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Inflation decelerated slightly in April, measured by the Federal Reserve’s preferred gauge, though it remained near its fastest pace since 1982.
Consumer prices rose 6.3% in April from a year earlier, down from 6.6% in March, as measured by the Commerce Department’s personal-consumption expenditures price index, which it reported Friday. The March rise was the fastest since January 1982. April’s reading was the first time the measure eased since late 2020.