Personal Consumption Expenditures (PCE)
The Fed's Compass: Core PCE Price Index English 한국어 Personal Consumption Expenditures (PCE) What the Indicator Means The PCE Price Index, released by the U.S. Bureau of Economic Analysis (BEA), measures changes in the prices of goods and services purchased by U.S. consumers. Unlike the CPI, it accounts for the "substitution effect" (e.g., swapping expensive beef for cheaper chicken) and includes expenses paid on behalf of consumers, like employer-sponsored healthcare. The Core PCE , which excludes volatile food and energy, is the ultimate gauge the Federal Reserve uses for its 2% inflation target. Release Frequency & Timing The report is published monthly , generally on the last Thursday or Friday of the month at 8:30 AM Eastern Time (ET) , reporting data for the preceding month. Why It Is Receiving Attention The PCE is the "official scorecard" for the Fed. When central bankers...