July Core PCE Inflation Expected to Increase

Wall Street Journal reporter Nick Timiraos, often referred to as the ‘Fed’s mouthpiece,’ has revealed that economists have re-evaluated CPI and PPI data into the PCE index. According to his social media post, they predict a core PCE inflation rate for July of 0.28%, translating to an annual rate of 3.4%. This increase would result in a year-over-year growth of 2.9%. The overall PCE inflation rate is expected to be moderate, with a month-over-month increase of 0.21% and a year-over-year rise of 2.6%. The information comes from #PPI reports.