Personal Consumption Expenditures Price Index, Excluding Food and Energy

Change From Month One Year Ago
November 2021 4.7 %
October 2021 4.2 %
September 2021 3.7 %
August 2021 3.6 %

The PCE Price Index Excluding Food and Energy, also known as the core PCE price index, is released as part of the monthly Personal Income and Outlays report. The core index makes it easier to see the underlying inflation trend by excluding two categories – food and energy – where prices tend to swing up and down more dramatically and more often than other prices. The core PCE price index is closely watched by the Federal Reserve as it conducts monetary policy.

Quarterly and annual data are included in the GDP release.

  • Current release: December 23, 2021
  • Next release: January 28, 2022

What is the Personal Consumption Expenditures Price Index, Excluding Food and Energy?

A measure of prices that people living in the United States, or those buying on their behalf, pay for goods and services. It's sometimes called the core PCE price index, because two categories that can have price swings – food and energy – are left out to make underlying inflation easier to see.

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Quick Guide: Price Indexes

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