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United States PCE Price Index
Personal Consumption Expenditures (PCE) is a broad price index for the United States economy that covers all goods and services consumed by households. The Federal Reserve prefers PCE over CPI as its primary inflation gauge.
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Why PCE Price Index matters for USD
Because the Fed targets 2% PCE inflation, surprises in this release can directly reprice Federal Funds rate expectations and drive significant moves in the usd. It is typically released as part of the monthly Personal Income and Outlays report.
How to interpret this series
PCE above 2% (year-on-year) signals the Fed may need to hold rates higher for longer, supporting the usd. A rapid decline toward or below 2% increases the likelihood of rate cuts, which is usd-negative.
Historical PCE Price Index
Source: BEA. Cadence: Monthly. Unit: %YoY. History from 2001-01-31 (25.4 years).
Recent announcements
Each release gets a durable child page so data, forecast, previous value, and raw fields can be cited directly.
Related United States indicators
Move to adjacent releases in the same macro category.
Building Permits
Number of new residential construction permits authorized, a leading indicator of future housing activity and economic growth.
Business Confidence
Survey-based measure of business executives' outlook on economic conditions, production, and investment plans.
Consumer Confidence
Survey-based measure of consumers' confidence in economic conditions, employment prospects, and personal finances.
Core Inflation
CPI excluding volatile items like food and energy.
Core Inflation MoM
Month-over-month change in core consumer prices (excluding food and energy), tracking underlying inflation trends.
Current Account Balance
Measures trade in goods and services and income flows.
Durable Goods Orders
Measures new orders placed with domestic manufacturers for delivery of long-lasting goods.
Government Debt
Total outstanding debt obligations of the central government, indicating fiscal sustainability and public sector borrowing requirements.
Gross Domestic Product (GDP) Growth
GDP growth: the quarterly change in the inflation-adjusted value of all goods and services produced in the economy.
House Price Index
Measures changes in residential property prices over time, reflecting housing market conditions and consumer wealth.
Common questions
Editorial context for readers and AI agents using this page as a cited country indicator source.
Why does the Fed prefer PCE over CPI?
PCE covers a broader range of expenditures, adjusts weights dynamically as consumers substitute goods, and tends to run slightly below CPI—making it a more stable policy anchor.