Citigroup Economists Estimate Core PCE Monthly Increase at 0.3%

Citigroup economists have made a preliminary estimate that the core Personal Consumption Expenditures (PCE) index will show a monthly increase of 0.3%, based on today's Consumer Price Index (CPI) data. According to Jin10, this figure exceeds the Federal Reserve's target of a 2% year-over-year increase but is an improvement over the 0.4% rise recorded in February. The Citigroup team noted that they will need to consider Producer Price Index (PPI) data to make a more accurate prediction for the PCE.