Inflation May Have Cooled, But It’s Not Enough Yet for the Fed

This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, economics enterprise reporter Rich Miller looks at what to expect in tomorrow’s consumer price index report. Sign up here and follow us at @bpolitics. Email our editors here.

The consumer price index due out tomorrow is expected to show that inflation cooled a bit last month. After heating up in the first three months of the year, to the surprise of many economists, inflation is forecast to have eased to 3.4% in April, a slight dip from 3.5% in March. Soft food prices are seen as having helped to offset a jump in gasoline costs.