Analyst Core PCE Forecasts: Pantheon Macroeconomics estimate the core PCE deflator increased by 0.38% in May, lifting the inflation rate to 3.4%, from 3.3% in April
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ECB President Lagarde (Q&A) says 25bps hike is a signal, and necessary given the economic situation, inflation outlook, and the uncertainty
WSJ's Timiraos says "Early estimates of the May PCE number (following the Thurs release of May PPI and the CPI on Wed) point to a firm core m/m reading that rounds up to 0.4%. Market-based core was milder"
Analyst Core PCE Forecasts: Pantheon Macroeconomics estimate the core PCE deflator increased by 0.38% in May, lifting the inflation rate to 3.4%, from 3.3% in April
ECB President Lagarde (Q&A) says that they are confident that they are not currently seeing second-round effects, when asked if elevated services inflation was evidence of 2nd round effects
ECB President Lagarde (Q&A) says cannot say whether services inflation increase is attributable only to direct or also to indirect effects
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- WSJ's Timiraos: Early estimates of the May PCE number (following the Thurs release of May PPI and the CPI on Wed) point to a firm core m/m reading that rounds up to 0.4%. Market-based core was milder.
- Oxford Economics: With both the March CPI and PPI data in hand, PCE tracking nowcast points to a 4.2% Y/Y rise in headline prices, and would be the hottest PCE inflation has been since April 2023.
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