Citi expects the core PCE month-on-month rate in March to be 0.3%, higher than the Federal Reserve's target

According to Jinshi reports, Citigroup economists have preliminarily estimated that the month-on-month increase in March's core PCE, combined with today's CPI data, will be 0.3%.

This level is higher than the 2% year-on-year target set by the Federal Reserve, but better than the 0.4% increase in February. The Citigroup team pointed out that they still need to incorporate PPI data to make a more accurate prediction of PCE.