US inflation data in the coming week will provide clues about whether the Federal Reserve can pause its series of interest-rate hikes at next month’s meeting. The core consumer price index, which excludes food and energy, probably increased by 5.5% in April from a year ago after a 5.6% increase a month earlier. The annual advance would suggest just a slight moderation in the pace of underlying price pressures, and that inflation is proving persistent. The core rate has hovered in a 5.5% to 5.7% range for the past four months, underscoring the sticky nature of inflation. Wednesday’s report will be the first of two CPI ... (full story)