Fed's Key Inflation Gauges May Offer Path to Rate Cuts: Eco Week

(Bloomberg) — The Federal Reserve's favored inflation yardsticks are poised to show the tamest monthly advances since late last year — a stepping stone for officials to begin lowering interest rates, possibly as soon as September. Economists expect no change in the May personal consumption expenditures price index and a minimal 0.1% gain in the core measure that excludes food and energy, based on median projections in a Bloomberg survey of economists. The report, due Friday, is also projected to show 2.6% annual advances in both the overall and core gauges. The expected increase in the core measure, which paints…