Banks Raise August Core PCE Forecasts, Watch CPI Before FOMC

Major U.S. financial institutions have raised their forecasts for the August core Personal Consumption Expenditures (PCE) inflation rate. Barclays adjusted its forecast from 0.22% to 0.25%, while Goldman Sachs revised it from 0.24% to 0.26%. Nomura increased its estimate from 0.245% to 0.278%, and Bank of America and TD Securities presented figures of 0.30% and 0.32%, respectively. These figures are based on market expectations reported by CoinGecko and are not official statistics. The August price indicators are cited as the background for the upward revision, with the U.S. Bureau of Labor Statistics (BLS) announcing that the final demand PPI for August rose by 0.4% compared to the previous month. The final demand PPI is up 5.4% from a year ago. The PCE reflects changes in purchase prices for U.S. households, and the core PCE is used to identify underlying price trends by reducing volatility. The August PCE is scheduled to be announced on September 30, and the Federal Open Market Committee (FOMC) will hold a meeting on September 15-16. The interest rate decision will be announced on September 16 at 2 PM (Eastern Time). The price data available for the market to review before the meeting includes the August CPI and PPI, and employment indicators along with comments from Federal Reserve officials may also influence policy decisions.

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