Goldman Sachs have shifted their forecasts for PCE inflation up by a tiny margin

Goldman Sachs have raised their forecast for April core and headline PCE estimates by 1bp each

• 0.26% and 0.27% respectively

Prior was 0.3% for these.

Earlier this week we had the CPI report, a marginal improvement. It seems a bit early to be pondering the PCE report, which is the Fed's preferred inflation measure, but GS is doing just that. I'm still just drawing squiggly lines on charts after the CPI, so I guess that's why they earn the big $ there at GS.

GS cite import prices and import prices ex-petroleum increasing by more than expected in April.

ICYMI:

• US import prices for April 0.9% vs 0.3% estimate