Personal Consumption Expenditures: Chain-type Price Index (PCEPI)
Personal Consumption Expenditures: Chain-type Price Index — Historical Chart
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Personal Consumption Expenditures: Chain-type Price Index (FRED series PCEPI) is a monthly inflation indicator measured in index 2017=100. The series is published through FRED, the Federal Reserve Bank of St. Louis economic database, with history going back to 1959. Values are seasonally adjusted, smoothing out predictable calendar effects so that underlying trends are easier to see.
Why it matters: Personal Consumption Expenditures: Chain-type Price Index is one of the indicators traders, economists, and policymakers watch within the inflation complex. Investors and policymakers track it to gauge price pressures in the economy, since persistent moves feed directly into Federal Reserve rate decisions and real returns on assets.
How to read it: focus on the direction and persistence of changes rather than any single monthly print. Comparing the latest value against its level a year ago, and against its long-run range since 1959, gives a better sense of whether the series is signaling acceleration, deceleration, or a turning point.
About This Series
BEA Account Code: DPCERG 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 wide range of consumer expenses and reflecting changes in consumer behavior. For example, if the price of beef rises, shoppers may buy less beef and more chicken. The PCE Price Index is produced by the Bureau of Economic Analysis (BEA), which revises previously published PCE data to reflect updated information or new methodology, providing consistency across decades of data that's valuable for researchers. They also offer the series as a Chain-Type index, as above. The PCE price index is used primarily for macroeconomic analysis and forecasting. The PCE Price index is the Federal Reserve’s preferred measure of inflation. The PCE Price Index is similar to the Bureau of Labor Statistics' consumer price index for urban consumers. The two indexes, which have their own purposes and uses, are constructed differently, resulting in different inflation rates. For more information on the PCE price index, see: U.S. Bureau of Economic Analysis, Guide to the National Income and Product Accounts of the United States (NIPA) (https://www.bea.gov/national/pdf/nipaguid.pdf) U.S. Bureau of Economic Analysis, Personal Consumption Expenditures Price Index (https://www.bea.gov/data/personal-consumption-expenditures-price-index) U.S. Bureau of Economic Analysis, Prices & Inflation (https://www.bea.gov/resources/learning-center/what-to-know-prices-inflation) U.S. Bureau of Labor Statistics, Differences between the Consumer Price Index and the Personal Consumption Expenditure Price Index (https://www.bls.gov/opub/btn/archive/differences-between-the-consumer-price-index-and-the-personal-consumption-expenditures-price-index.pdf)
Recent Data
| Date | Value (Index 2017=100) | Change |
|---|---|---|
| April 1, 2026 | 130.90 | +0.52 |
| March 1, 2026 | 130.38 | +0.9 |
| February 1, 2026 | 129.48 | +0.52 |
| January 1, 2026 | 128.97 | +0.35 |
| December 1, 2025 | 128.62 | +0.47 |
| November 1, 2025 | 128.15 | +0.32 |
| October 1, 2025 | 127.83 | +0.2 |
| September 1, 2025 | 127.63 | +0.34 |
| August 1, 2025 | 127.29 | +0.33 |
| July 1, 2025 | 126.96 | +0.21 |
| June 1, 2025 | 126.74 | +0.36 |
| May 1, 2025 | 126.38 | +0.23 |
Frequently Asked Questions
What is Personal Consumption Expenditures: Chain-type Price Index today?
The latest value of Personal Consumption Expenditures: Chain-type Price Index (PCEPI) is shown at the top of this page, along with its observation date and the change from the prior reading. Data is sourced from FRED and refreshed regularly.
How often is Personal Consumption Expenditures: Chain-type Price Index updated?
Personal Consumption Expenditures: Chain-type Price Index is reported monthly (Monthly). New observations appear on FRED shortly after the source agency releases them, and this page updates daily.
What does a rising Personal Consumption Expenditures: Chain-type Price Index mean?
A sustained rise in Personal Consumption Expenditures: Chain-type Price Index signals strengthening readings in this inflation measure, in index 2017=100. Whether that is positive or negative for markets depends on context — compare the move against the series’ trend and related indicators in the same category.
Where does the PCEPI data come from?
The data comes from FRED® (Federal Reserve Economic Data), maintained by the Federal Reserve Bank of St. Louis, under series ID PCEPI. History is available back to 1959.
Related Inflation Indicators
- Consumer Price Index for All Urban Consumers: All Items in U.S. City Average333.98
- Consumer Price Index for All Urban Consumers: All Items Less Food and Energy in U.S. City Average336.12
- Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed2.2
- Market Yield on U.S. Treasury Securities at 5-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed1.82
- 10-Year Breakeven Inflation Rate2.34
- 5-Year Breakeven Inflation Rate2.44
Data sourced from FRED®, Federal Reserve Bank of St. Louis: Personal Consumption Expenditures: Chain-type Price Index (PCEPI). Retrieved from fred.stlouisfed.org. Last updated May 28, 2026.