‘Fed's Mouthpiece’ Nick Timiraos: Based on forecasts converting PPI and CPI data to the PCE measure, the U.S. core PCE for June is expected to moderately rise by 0.18% (up 3.3% year-over-year), marking the lowest monthly increase since last November. Overall PCE for June is expected to decline by 0.07%, bringing the 12-month year-over-year increase down to 3.7%.