This can be asked as a general question, not only to caffe. What pycaffe does is simply calling the C++ methods that are implemented. Of coruse you will have an overhead to to the python interface and the calling of the function. This blog evaluates the The cost of a Python function call.
Furthermore, if you use a Python IDE like e.g Spyder you give some resources to the IDE. If you run your script in a python-console it may take less resources.
All in all it can be said that if you have a average machine pycaffe will work just as good as the C++ implementation and you will not directly feel any different.
Pycaffe will be easier to handle than the C++ impelementation thanks to abstraction.