We Expect 29ps for core PCE and 31bps for headline PCE.
Please, find below our translation of CPIs and PPIs into PCE price inflation for June. Compared to our post-CPI translation, the current translation is little changed, as an upward surpise in non-market prices was offset by lower than expected airfares.
We will update again our models early next week – we do not expect any meaningful change.
Figure 1. Post CPI and PPI Translation into PCE prices.
