Summary
- Major Wall Street banks raised their forecasts for the August consumer price index (CPI)-linked August core PCE inflation reading after factoring in the latest US inflation data.
- Barclays, Goldman Sachs, Bank of America, TD and Nomura each slightly raised their forecasts for the month-over-month increase in August core PCE.
- The revisions came after August core CPI rose 0.3% from a month earlier, above the market expectation of 0.2%.
Forecast Trend Report by Period
Major Wall Street banks have raised their forecasts for the August core personal consumption expenditures price index after a stronger-than-expected US consumer price index report.
Walter Bloomberg reported on September 12 that Barclays lifted its forecast for August core PCE on a month-over-month basis to 0.25% from 0.22%, while Goldman Sachs raised its estimate to 0.26% from 0.24%. Bank of America increased its forecast to 0.30% from 0.26%, TD raised its call to 0.32% from 0.24%, and Nomura lifted its estimate to 0.278% from 0.245%.
Mizuho projected a 0.30% increase under its previous calculation method and as much as 0.40% under a new methodology.
The revisions came after August core CPI, released a day earlier, rose 0.3% from a month earlier, topping the market forecast of 0.2%.
Uk Jin
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