Oxford Economics PCE tracking nowcast points to a 0.4% M/M rise in headline prices, 0.3% M/M rise in core prices in April
- "Although this a weaker monthly rise than seen in the CPI or PPI indices, this would still push headline PCE up to 3.8%, it’s hottest reading since May 2023."
Context
The Oxford Economics PCE tracking nowcast indicates a monthly rise in both headline (0.4%) and core (0.3%) prices for April, which, despite being weaker than the CPI and PPI trends, still suggests upward pressure on inflation, pushing the headline PCE to its highest level since May 2023. This implication for sustained inflationary pressure may affect Fed policy considerations, particularly in terms of future rate hikes and market sentiment regarding inflation expectations.
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