Inflation in the Federal Reserve’s preferred price gauge eased in January after making steady increases throughout the fall.

The personal consumption expenditures (PCE) price index increased by 0.3 percent in January, easing to a 2.5-percent annual increase from 2.6 percent in December. The moves were in line with economists’ expectations.

“This is about the only inflation indicator this month where the Fed can find some refuge,” Olu Sonola, economist with Fitch Ratings, wrote in an analysis.

Concerns about........

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