The Fed's preferred inflation gauge holds steady.

I'm Novasafa with the Marketplace Minute.

The Commerce Department's measure of inflation climbed about the same amount in April

as it did in March, 3 tenths percent.

The annual rate of price increases was 2.7 percent, also the same. The Federal

Reserve wants to see 2 percent. Officials have said they are looking for several months of

moderating prices before cutting interest rates.

The same report showed growth in consumer spending slowed significantly. It rose

7 tenths percent in March and only two tenths percent in April. This was in line with

other measures showing consumers are pulling back. Overseas inflation among the

20 countries using the euro ticked up to 2.6 percent, the central bank there, is widely expected

to cut rates next week. Saudi Arabia's monarchy will sell more shares in the world's

largest oil company, Aramco.

This is the second round of stock issuance.

The first was in 2019.

The latest sale is expected to net the Saudi government $12 billion.

I'm Novisapo with the marketplace minute.