(CNBC) Inflation is taking baby steps towards coming back to where policymakers want it, with a report due Friday expected to show more of that creeping progress. The Commerce Department’s measure of personal consumption expenditures prices is expected to show inflation in April running at a 2.7% annual rate, according to the Dow Jones estimates both for overall inflation and the “core” that excludes food and energy costs.
Fed’s favorite inflation gauge is expected to show very slow progress on Friday
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