Inflation is taking baby steps towards coming back to where policymakers want it, with a report due Friday expected to show more of that creeping progress. The Commerce Department’s measure of personal consumption expenditures prices is expected to show inflation in April running at a 2.7% annual rate, according to the Dow Jones estimates both for overall inflation and the “core” that excludes food and energy costs. If that forecast holds, it will represent a slight decline on the core measure and little change on the overall rate, though economists will be looking at both the annual and monthly measures. Core ... (full story)