Definition
The PCE (Personal Consumption Expenditures) price index with food and energy taken out.
The story
The Fed's goal is 2% PCE inflation. In September 2026, PCE prices were up 3.6% from a year earlier, and core was up 3.1% (Bureau of Economic Analysis, released Oct 29). That gap between where inflation is and where the Fed wants it is the distance every rate decision is trying to close.
Why markets watch it
Fed officials watch core PCE closely as their read on the underlying trend.
IN HISTORICAL DATA
Latest PCE inflation: Thu, Oct 29, 2026
- Actual vs forecast
- Core +0.3% m/m vs not confirmed
- S&P 500
- -0.3%
- Nasdaq
- -1.4%
- Gold
- Spot -1.03% to $4,025.24
History, not a prediction. Every row lists its sources.
All PCE inflation →Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms