Fed policymakers have been closely watching core inflation in particular, because it strips out volatile data to give a better sense of where inflation might be headed. Officials aim for 2 percent inflation on average, so that key price measure is still about twice as fast as their goal. Still, the recent progress has been a welcome development, especially because the economy has held up even as price increases begin to slow. “It’s a good number,” Omair Sharif, founder of Inflation Insights, said of the price report. The Fed’s staff even revised its forecast at the central bank’s meeting this week, and is no longer calling for a downturn this year.

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Persons: “, ” Omair Sharif Organizations: Fed, stoke