Core Inflation

Core-Cast is our nowcasting model to track the Fed's preferred inflation gauges before and through their release date. The heatmaps below give a comprehensive view of how inflation components and themes are performing relative to what transpires when inflation is running at 2%. Most of the Personal Consumption

Summary: The risks for May (CPI) are still tangibly to the upside, but developments from April CPI do shade favorably relative to what was the baseline headed into the April CPI preview.