Investors will be watching the Federal Reserve’s preferred inflation gauge for clues about whether price rises are accelerating in the world’s biggest economy.
Next week’s PCE, or personal consumption expenditures price index, is expected to echo recent measures that have signalled higher inflation in April, as the war in Iran drove up energy prices.
Core prices, which exclude the volatile food and energy sectors and are the Fed’s preferred measure of underlying price pressures, will be most crucial to the central bank’s thinking. Economists are forecasting a 3.4 per cent annual rise, which would be the highest since mid-2023.
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