PIMCO pares 2017 U.S. core inflation view to 2 percent

FILE PHOTO - A employee walks by a meat cooler in the grocery section of a Sam's Club in Bentonville

NEW YORK (Reuters) – Investment manager PIMCO said on Monday it reduced its U.S. core inflation forecast at the end of 2017 to 2.0 percent from 2.3 percent following a softer-than-expected reading on the Consumer Price Index released on Friday.

“In a nutshell, unlike in March, April’s soft inflation across a range of core goods and services prices cannot be explained away by large, one-off price adjustments or other quirks in the data,” PIMCO U.S. economist Tiffany Wilding wrote in a blog post.

(Reporting by Richard Leong; Editing by Chris Reese)