U.S. BEA Monthly Index 2017=100 PCEPILFE

Core PCE price index (Fed's gauge)

YoY

+3.3% ▲

Index 130.3 (prev 130.1)

2026-06-01 as of ・Index 2017=100

The personal consumption expenditures (PCE) price index excluding food and energy. The inflation gauge the Federal Reserve emphasizes most for its 2% target.

Key points

The Fed's preferred inflation gauge for its 2% target
Based on PCE; tends to run lower than CPI
Most important for the direction of monetary policy

How to read it

The Fed's 2% target (YoY) is defined on core PCE. It differs from CPI in scope and method and tends to run a bit lower. The most important inflation gauge for reading the Fed's rate path.

Trend

Recent trend

Period	Value	Change
2026-06-01	130.27	+0.17
2026-05-01	130.09	+0.43
2026-04-01	129.66	+0.32
2026-03-01	129.34	+0.38
2026-02-01	128.96	+0.51
2026-01-01	128.46	+0.57
2025-12-01	127.89	+0.42
2025-11-01	127.47	+0.23
2025-10-01	127.24	+0.29
2025-09-01	126.95	+0.24
2025-08-01	126.71	+0.28
2025-07-01	126.43	+0.31

FAQ

How is it different from CPI?

It differs in scope and methodology. The Fed targets core PCE, which tends to run a bit lower than CPI.

Why does the Fed prefer it?

PCE covers consumption more broadly and adapts to shifts in what people buy, so the Fed uses it for its 2% target.

Sources (primary)

This article is an independent summary based on the official U.S. data below. Please verify the latest and exact details with the official sources.

FRED (series page)：PCEPILFE
Source agency：U.S. BEA
FRED last updated：2026-07-30 12:01:26-05

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