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PCE Price Index

Personal Consumption Expenditures price index, the Fed's preferred inflation measure.

The PCE Price Index is currently 129.45, last updated .

129.45
1W +0.38%1M +0.38%3M +0.38%
Updated 9m ago
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Inflation erodes purchasing power and forces central banks to tighten, squeezing equity multiples and increasing credit stress. Breakeven rates reveal what the bond market expects for future inflation, while CPI and PCE measure what consumers actually experience. Divergences between market expectations and realized prints create some of the highest-impact trading events of the year.

Updated just now

AI Analysis

Apr 14, 2026

If sustained at $90-100 WTI_AV, core PCE is insulated for 1-2 more prints, then energy base effects hit hard in H2 2026. If PCE surprises high and term premium breaks above 80bp while TIPS stays elevated, duration becomes a significant risk. INFLATION PIPELINE: PPI 3M +1.0% → CPI 3M +1.1% → PCE 3M +0.4% — the deceleration from PPI to PCE suggests goods deflation is absorbing upstream price pressure.

Recent Data

DateValueChange
Feb 1, 2026129.45+0.38%
Jan 1, 2026128.97+0.30%
Dec 1, 2025128.58+0.33%
Nov 1, 2025128.15+0.22%
Oct 1, 2025127.87+0.19%
Sep 1, 2025127.63+0.26%
Aug 1, 2025127.29+0.26%
Jul 1, 2025126.96+0.17%
Jun 1, 2025126.74+0.29%
May 1, 2025126.38—

Related in Inflation

CPI (All Urban)
Consumer Price Index for all urban consumers, the headline inflation gauge.
Core CPI (ex Food/Energy)
CPI excluding food and energy, less volatile measure of underlying inflation.
Core PCE (ex Food/Energy)
Core PCE excluding food and energy, the single most important inflation metric for the Fed.
PPI Final Demand
Producer Price Index for final demand, leading indicator of consumer inflation.

Explore Further

Forecast 2026
PCE Price Index Outlook
Scenario-weighted forecast using regime implied approach.
Comparison
Core PCE vs Headline PCE
The spread between headline and core PCE captures food and energy contributions. Headline above core signals commodity-d...
Comparison
Headline CPI vs Headline PCE
Headline CPI and PCE typically differ by 30-40bp due to weights and methodology. CPI has higher shelter weight, PCE capt...
Category
All Inflation Data
CPI, PCE, breakevens, and inflation expectations data updated live. Track the indicators the Fed watches most closely to...

Frequently Asked Questions

▶What is PCE Price Index?
Personal Consumption Expenditures price index, the Fed's preferred inflation measure.
▶How does PCE Price Index relate to inflation?
PCE Price Index is part of the Inflation category. Inflation erodes purchasing power and forces central banks to tighten, squeezing equity multiples and increasing credit stress. Breakeven rates reveal what the bond market expects for future inflation, while CPI and PCE measure what consumers actually experience. Divergences between market expectations and realized prints create some of the highest-impact trading events of the year.
▶How often is PCE Price Index updated?
PCE Price Index is updated once per month when the releasing agency publishes new data. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.
▶Where does Convex source PCE Price Index data?
Convex sources PCE Price Index data from the Federal Reserve Economic Data (FRED) API, maintained by the Federal Reserve Bank of St. Louis. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.
▶What can I do on the PCE Price Index chart page?
The PCE Price Index page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.

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Data sourced from FRED, CoinGecko, CBOE, CFTC, and EIA. Updated monthly. This page is for informational purposes only and does not constitute financial advice.