The US PCE price index rose 0.4% month-over-month in May 2026, matching April's increase and less than market expectations of a 0.5% advance. Goods inflation eased to 0.4% from 0.7%, while services inflation rose to 0.5% from 0.3% in each of the previous two months. The core PCE index, which excludes food and energy, increased 0.3%, the same as an upwardly revised 0.3% in the previous month and matching market forecasts. On an annual basis, headline PCE inflation accelerated for a third consecutive month to 4.1% from 3.8%, confirming expectations and marking the highest level since April 2023. Core PCE inflation edged up to 3.4% from 3.3%, also in line with forecasts and reaching its highest level since October 2023. At its June 2026 meeting, the Federal Reserve raised its inflation forecasts, projecting PCE inflation at 3.6% and core PCE inflation at 3.3% for the year, both remaining well above the central bank's 2% target. source: U.S. Bureau of Economic Analysis

PCE Price Index Monthly Change in the United States remained unchanged at 0.40 percent in May. PCE Price Index Monthly Change in the United States averaged 0.27 percent from 1959 until 2026, reaching an all time high of 1.20 percent in February of 1974 and a record low of -1.20 percent in November of 2008. This page includes a chart with historical data for the United States PCE Price Index Monthly Change. United States PCE Price Index Monthly Change - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-28 12:30 PM
PCE Price Index MoM
Apr 0.4% 0.7% 0.5% 0.5%
2026-06-25 12:30 PM
PCE Price Index MoM
May 0.4% 0.4% 0.5% 0.4%
2026-07-30 12:30 PM
PCE Price Index MoM
Jun 0.4%


Related Last Previous Unit Reference
Core PCE Price Index 130.08 129.67 points May 2026
Core PCE Price Index YoY 3.40 3.30 percent May 2026
Core PCE Price Index MoM 0.30 0.30 percent May 2026
Core PCE Prices QoQ 4.40 2.70 percent Mar 2026
GDP Price Index 131.78 130.62 points Mar 2026
PCE Price Index 131.53 130.94 points May 2026
PCE Price Index YoY 4.10 3.80 percent May 2026
PCE Price Index MoM 0.40 0.40 percent May 2026
PCE Prices QoQ 4.60 2.90 percent Mar 2026
Real Personal Spending MoM 0.30 0.00 percent May 2026


United States PCE Price Index Monthly Change
In the United States, the Personal Consumption Expenditure Price Index provides a measure of the prices paid for domestic purchases of goods and services. While the Consumer Price Index assumes a fixed basket of goods and uses expenditure weights that do not change over time for several years, the Personal Consumption Expenditure Price Index uses a chain index and resorts on expenditure data from the current period and the preceding period (known as Fisher Price Index).
Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.40 1.20 -1.20 1959 - 2026 percent Monthly
2017=100; SA

News Stream
US PCE Inflation Steady at 0.4%
The US PCE price index rose 0.4% month-over-month in May 2026, matching April's increase and less than market expectations of a 0.5% advance. Goods inflation eased to 0.4% from 0.7%, while services inflation rose to 0.5% from 0.3% in each of the previous two months. The core PCE index, which excludes food and energy, increased 0.3%, the same as an upwardly revised 0.3% in the previous month and matching market forecasts. On an annual basis, headline PCE inflation accelerated for a third consecutive month to 4.1% from 3.8%, confirming expectations and marking the highest level since April 2023. Core PCE inflation edged up to 3.4% from 3.3%, also in line with forecasts and reaching its highest level since October 2023. At its June 2026 meeting, the Federal Reserve raised its inflation forecasts, projecting PCE inflation at 3.6% and core PCE inflation at 3.3% for the year, both remaining well above the central bank's 2% target.
2026-06-25
US PCE Inflation Expected to Accelerate in May
The US PCE price index is expected to rise 0.5% month-over-month in May 2026, accelerating from a 0.4% increase in April, as higher energy costs linked to the conflict with Iran continue to put upward pressure on prices. The core PCE index, which excludes food and energy, is projected to increase 0.3%, up from 0.2% in the previous month. On an annual basis, headline PCE inflation is forecast to accelerate for a third consecutive month to 4.1%, the highest reading since April 2023, compared with 3.8% in April. Core PCE inflation is also expected to edge higher to 3.4% from 3.3%, marking its strongest pace since late 2023. Overall, the report is likely to reinforce the view that inflationary pressures remain elevated in the US economy. Reflecting these concerns, the Federal Reserve raised its inflation projections at its June 2026 meeting, forecasting PCE inflation at 3.6% and core PCE inflation at 3.3% for the year, both remaining well above the Fed's 2% target.
2026-06-25
US PCE Inflation Remains Elevated
The US PCE price increased 0.4% month-over-month in April 2026, less than market expectations of 0.5%, following a 0.7% jump in March, which was the sharpest gain since June 2022. Goods prices increased 0.7% (vs 1.4% in March), while services inflation was steady at 0.3%. The core PCE index, which excludes food and energy, increased 0.2% after a 0.3% gain in March. On an annual basis, headline PCE inflation accelerated for a second straight month to 3.8% from 3.5% in March, reaching its highest level since May 2023 and aligning with headline CPI inflation. Core PCE inflation edged higher to 3.3% from 3.2%, marking its highest reading since late 2023.
2026-05-28