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2026-09-23

Goldman Sees Oil and Refined-Product Prices Adding Only Modestly to Core PCE

Goldman Sees Oil and Refined-Product Prices Adding Only Modestly to Core PCE

Key points

Estimated impact of energy and refined-product prices on 2026 core PCE by component | GS sees just 3-5bp added to monthly core PCE through year-end, with airfares hit most

Image source: @MikeZaccardi