PCEPILFEPersonal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index) — Current Value & Historical Data
Gray bands: NBER recessions·Dashed lines: key policy events
What is Personal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index)?
Core PCE is the Personal Consumption Expenditures price index excluding food and energy, published monthly by the Bureau of Economic Analysis. It is the single most important inflation measure in U.S. monetary policy: the Federal Reserve's 2% inflation target is defined specifically in terms of core PCE, and every FOMC statement is framed around whether this measure is moving toward or away from that target. Every monthly release is scrutinized for whether 3-month, 6-month, and 12-month trends are accelerating or cooling. Core PCE peaked at 5.6% year-over-year in February 2022 during the post-COVID inflation episode, the highest reading since the early 1980s, and subsequently cooled toward 2% as supply-chain pressure eased and Fed tightening restrained demand. Single-month prints regularly move federal funds futures and Treasury yields by tens of basis points.
Current Personal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index) Value
As of April 1, 2026, the current personal consumption expenditures excluding food and energy (chain-type price index) is 129.63 Index 2017=100. This is the most recent observation available for this series, updated monthly.
Historical Trend
Personal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index) rose 0.24% month-over-month. Over the past year, personal consumption expenditures excluding food and energy (chain-type price index) rose 3.48% from March 2025. In the series' tracked history, the highest recorded value was 129.63 (April 2026), and the lowest was 15.50 (January 1959).
Methodology & Source
Source: Federal Reserve Economic Data (FRED)
Frequency: Monthly
Units: Index 2017=100
BEA Account Code: DPCCRG The Personal Consumption Expenditures Price Index is a measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services. The change in the PCE price index is known for capturing inflation (or deflation) across a wi...