As Fed readies rate rise, inflation slips further from goal

U.S. INFLATION HAS SLOWED and is now expected to miss the Federal Reserve's year's end inflation target. The soft growth may prevent a second interest rate hike later this year. / BLOOMBERG / JOSHUA ROBERTS
U.S. INFLATION HAS SLOWED and is now expected to miss the Federal Reserve's year's end inflation target. The soft growth may prevent a second interest rate hike later this year. / BLOOMBERG / JOSHUA ROBERTS
NEW YORK - The worst of the price war in the U.S. mobile-phone market may be over. But the lurch down in inflation it helped trigger is not. The Federal Reserve’s preferred price measure rose 1.7 percent in April from a year ago, down from 1.9 percent in March and 2.1 percent in February, Commerce…

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