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April 1, 2024

Inflation gauge shows price pressures easing gradually

AP Economics Writer

WASHINGTON — A measure of inflation that is closely tracked by the Federal Reserve slipped in February in a sign that price pressures continue to ease.

The government reported Friday that prices rose 0.3% from January to February, decelerating from a 0.4% increase the previous month in a potentially encouraging trend for President Joe Biden's re-election bid. Compared with 12 months earlier, though, prices rose 2.5% in February, up slightly from a 2.4% year-over-year gain in January.

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