US Core CPI rose 0.38% in April, exceeding expectations due to rent catch-up and electronics demand. Goldman Sachs now estimates April Core PCE at 0.30% MoM.
Key Takeaways
- 1.Core CPI increased 0.38% in April, which was above the median forecast of 0.3%.
- 2.The upside surprise was partially driven by a catch-up in rent and owners' equivalent rent (OER) measurement following a previous government shutdown.
- 3.Electronics and software prices rose significantly, potentially reflecting demand for AI-related inputs.
Table of Contents
- KEY NUMBERS
- MAIN POINTS
- Disclosure Appendix
Document Preview
Access the Full Report
Get unlimited access to institutional research reports with a 14-day free trial.
Authors
Jan HatziusAlec PhillipsDavid Mericle
Securities
Core CPICore PCE
Themes
Persistent InflationAI-Driven Demand
Regions
North AmericaUnited States