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Wall Street is expected to revise its core PCE inflation forecast upward to at least 0.3% month-over-month after stronger-than-expected CPI data in September.
Wall Street analysts are expected to revise up their core Personal Consumption Expenditures (PCE) inflation forecasts after stronger-than-expected Consumer Price Index (CPI) data in September, with month-over-month growth potentially reaching at least 0.3%, higher than the previous consensus of 0.21%. TD Securities has already raised its forecast from 0.23% to 0.36%. Higher-than-expected prices for housing, apparel, education, automobiles, and recreation are the main drivers of this revision. The Federal Reserve's preferred inflation gauge could be significantly higher than previously anticipated, complicating the rationale for further rate cuts. Thursday's Producer Price Index (PPI) report will help further refine these predictions.
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