by John Carney
Breitbart.com
Inflation persistence has eased only slightly after surging higher at the start of the year, according to a gauge from the Federal Reserve Bank of New York.
A New York Fed model that aims to measure how much inflation is likely to keep going was revised higher for the first three months of the year, data from the bank showed Monday. The most recent reading shows only a slight decline in April, the most recent month measured.
The persistent barometer, known as the Multivariate Core Trend or MCT, jumped to 3.3 percent in January, upwardly revised from the earlier estimate of three percent. February’s figure was revised up to 3.1 percent from 2.7 percent and March’s to 2.9 percent from 2.6 percent.