NEW YORK, June 3 (Reuters) - The Federal Reserve Bank of New York said on Monday that underlying inflation pressures eased slightly in April.
The bank reported on Monday that its Multivariate Core Trend inflation reading stood at 2.8% in April from March’s upwardly revised 2.9%. Those numbers compare with the year-over-year rise of 2.7% in the personal consumption expenditures price index in April. The Fed’s inflation target is 2%. (Reporting by Michael S. Derby Editing by Chris Reese)
