U.S. BEA
Monthly
Index 2017=100 PCEPILFE
Core PCE price index (Fed's gauge)
YoY
+3.0%
▲
Index 130.5 (prev 130.1)
2026-08-01 as of ・Index 2017=100
Next scheduled release：Thu, Oct 29, 2026（Personal Income and Outlays）
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
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
Year by year
Shows the year-over-year change (%) from 2017-10 to 2026-08, grouped by calendar year.
Latest+3.0%2026-08-01
Period high+5.6%Sep 2022
Period low+1.0%Jun 2020
| Year | Average | Year-end | High | Low |
|---|---|---|---|---|
| 2026 (months 1–8) | +3.0% | +3.0% | +3.2% | +2.9% |
| 2025 | +2.8% | +2.9% | +2.9% | +2.6% |
| 2024 | +2.9% | +2.9% | +3.2% | +2.8% |
| 2023 | +4.2% | +3.2% | +5.0% | +3.2% |
| 2022 | +5.4% | +5.1% | +5.6% | +5.1% |
| 2021 | +3.5% | +5.1% | +5.1% | +1.6% |
| 2020 | +1.4% | +1.5% | +1.7% | +1.0% |
| 2019 | +1.6% | +1.5% | +1.8% | +1.5% |
| 2018 | +1.9% | +2.0% | +2.0% | +1.6% |
| 2017 (months 10–12) | +1.6% | +1.6% | +1.6% | +1.5% |
Recent trend
| Period | Value | Change |
|---|---|---|
| 2026-08-01 | 130.46 | +0.32 |
| 2026-07-01 | 130.13 | +0.16 |
| 2026-06-01 | 129.97 | +0.17 |
| 2026-05-01 | 129.8 | +0.4 |
| 2026-04-01 | 129.4 | +0.37 |
| 2026-03-01 | 129.03 | +0.33 |
| 2026-02-01 | 128.7 | +0.43 |
| 2026-01-01 | 128.27 | +0.51 |
| 2025-12-01 | 127.77 | +0.4 |
| 2025-11-01 | 127.36 | +0.2 |
| 2025-10-01 | 127.17 | +0.23 |
| 2025-09-01 | 126.94 | +0.29 |
FAQ
Core PCE price index (Fed's gauge): what is the latest reading?
As of Aug 2026, it is +3.0% (year over year). Since Oct 2017, the high was +5.6% (Sep 2022) and the low was +1.0% (Jun 2020). The next release is scheduled for Thu, Oct 29, 2026.
How is it different from 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：2026-09-30 07:43:28-05
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