FED'S PREFERRED INFLATION GAUGE LIKELY ROSE IN MAY: GOLDMAN SACHS Despite a cooler-than-expected CPI, data suggests the Fed’s preferred inflation measure—the core PCE index—likely rose 0.2% in May, up from 0.1% in April, according to Goldman Sachs. That would push year-over-year core PCE to 2.6% from 2.5%. More clarity is expected after Thursday’s producer price report.