In Wednesday’s May CPI report, the bank forecasts a modest tariff-related impact, nudging core inflation up 0.05 percentage points to 0.25% month-on-month. Looking ahead, core inflation could climb to 3.5% by year-end, up from 2.8% in April. Most of the near-term inflation is expected to come from goods rather than services, with hotel and airfare prices projected to remain flat.
Earlier previews here:
US CPI data due Wednesday, core expected just under 3% y/yBofA and Morgan Stanley expectations for the May US CPI report on WednesdayData due at 0830 US Eastern time:
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