PCE (Personal Consumption Expenditures price index)
The PCE is the US Personal Consumption Expenditures price index, published every month by the Bureau of Economic Analysis, two to three weeks after the CPI. It is the index on which the Fed defines its 2% inflation target: a “firm, fixed target,” its chair, Kevin Warsh, reminded everyone at Jackson Hole in August 2026. It covers a broader range of spending than the CPI and weights categories differently, so the two measures can diverge sharply. Because the CPI and the PPI for the same month make it possible to estimate it before it comes out, it generally produces less of a surprise. Details and calendar: the guide to economic releases.
See also
The index that tracks, month after month, the prices US consumers pay.
The index that tracks, month after month, the selling prices of US producers.
Inflation excluding food and energy, which shows the underlying trend in prices.
The 12-member committee that sets the US policy rate, 8 times a year.