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Update: US Fed's preferred inflation gauge steady in April

Core personal consumption expenditure, the U.S. Federal Reserve's preferred measure of inflation, held steady at 1.8% in April, unchanged from the downwardly revised reading in March, the Bureau of Economic Analysis said.

In monthly terms, core PCE inflation was also steady at 0.2%.

Personal income rose 0.3% month over month in April in current dollar terms. Real disposable personal income was up 0.2%, the same pace of growth as in March.

Real PCE rose 0.4% in April following a 0.5% increase in the prior month.

Personal outlays increased $86.9 billion, while personal saving was $419.6 billion last month.