Citigroup: Expects March Core PCE Month-over-Month Rate at 0.3%

Odaily News Compared to the PCE indicator favored by the Fed, core CPI has consistently shown unusually small increases. Based on today's CPI data, economists at Citigroup preliminarily estimate that the month-over-month increase in core PCE, rounded, will be 0.3%. This level is higher than what corresponds to the Fed's 2% year-over-year target. However, it is better than the 0.4% increase seen in February's data released yesterday. The Citigroup team noted that they still need to incorporate PPI data to make a more accurate forecast for PCE. (Jin10)