0954 ET - Figures from this morning's PPI inflation report will feed into the December PCE inflation data--the Fed's preferred measure of rising prices--and Wall Street economists are crunching the numbers to update their estimates. At Citi, economists now expect that core PCE inflation, which excludes volatile food and energy prices, ran at 0.21% month over month in December, a slight upward tweak from the previous forecast. Morgan Stanley economists also nudge up their December core PCE inflation projection, now at 0.23%. Core PCE increased by 0.1% in November, so both banks see a December reacceleration ahead. Some Fed officials have said they want to see the 12-month core PCE inflation number decelerate closer to the 2% target before cutting interest rates further. The PCE numbers are due Jan. 31. (matt.grossman@wsj.com, @mattgrossman)
(END) Dow Jones Newswires
January 14, 2025 09:54 ET (14:54 GMT)
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