Chart Library
2026-09-24

Three Supply Shocks Lift US Core PCE Inflation, Peaking Near 1 pp in 2026

Three Supply Shocks Lift US Core PCE Inflation, Peaking Near 1 pp in 2026

Key points

Contributions to US annual core PCE inflation from tariffs, AI buildout and energy (pp) | Peaks near 1.0 pp in 2026, easing through 2027

Image source: @MikeZaccardi