On May 20, Nick Timiraos, a Wall Street Journal reporter known as the "Fed's mouthpiece," posted on social media that based on the predictive model mapping CPI and PPI to PCE, the significant decline in portfolio management services in the April Producer Price Index (PPI) is expected to lead to another moderate core PCE inflation reading.
The core PCE is estimated to grow by approximately 0.13% in April. However, due to potential upward revisions in March data, the year-on-year core PCE growth rate may remain around 2.6%.
