May PCE rose 4.1% YoY; while some saw that as a peak, RSM chief economist Joseph Brusuelas says core inflation’s 0.3% m/m gain and 3.4% YoY rate may be persistent. He points to pronounced pass-through pressures within recent months’ PPI components, suggesting those prices are less likely to retreat than headline aggregates imply.

2026-06-25

May PCE rose 4.1% YoY; while some saw that as a peak, RSM chief economist Joseph Brusuelas says core inflation’s 0.3% m/m gain and 3.4% YoY rate may be persistent. He points to pronounced pass-through pressures within recent months’ PPI components, suggesting those prices are less likely to retreat than headline aggregates imply.