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Core PCE Estimates Updated For PPI

US DATA

In an unusually tight grouping, analysts point to core PCE inflation of 0.21% M/M in June (released Jul 28, two days after the FOMC decision). If accurate it would be a moderation from the 0.315% of May and 0.38% of April, for the softest since Jul’22 having got very close in Nov’22. Taken from the below fine-tuned core PCE estimates after yesterday’s PPI release:

  • GS 0.19
  • BofA 0.20
  • Citi 0.21
  • UBS 0.21
  • JPM 0.22

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