Goldman Sachs has forecast growth in the U.S. core personal consumption expenditures (PCE) index to nearly halve by the end of 2022, as the U.S. bank expects a surge in commodity prices and supply-chain constraints to ease after causing near-term price spikes.
Economists at Goldman Sachs expect the core PCE index—the Federal Reserve’s preferred inflation measure—to fall to 2.3 percent by end of next year from 4.4 percent at the close of 2021, as demand for goods should moderate with the peak stay-at-home and stimulus effects fading.
