US PCE price index · November 2026

US PCE price index · November 2026 is scheduled for FRI 19 DEC 2026 at 08:30 ET · 13:30 UTC. The data covers November 2026. The next release in the series is expected on December 2026 PCE · late January 2027.

Headline PCE: All-items PCE price index — year-on-year and month-on-month change. Core PCE: PCE ex food and energy — the Fed's primary inflation target gauge. Personal income and spending: Nominal and real (inflation-adjusted) personal income and consumer spending. PCE deflator components: Goods vs services breakdown of the PCE price index. For detailed definitions of each measure, see the IMF inflation methodology.

Core PCE is the Fed's benchmark — The Fed targets 2% core PCE inflation over the longer run. When core PCE is above 2%, the committee is more cautious about rate cuts. Check the 3-month and 6-month annualised rates — they show momentum more clearly than the 12-month figure. PCE vs CPI — why they differ — PCE uses a chain-weighted formula that adjusts for consumer substitution, whereas CPI uses a fixed basket. PCE also covers a broader range of spending (including healthcare paid by employers and government). PCE typically runs 0.2–0.5 pp below CPI. Personal spending drives the demand picture — Strong real consumer spending alongside sticky PCE inflation is a hawkish combination for the Fed — it suggests the economy is running hot enough to sustain price pressure. Weak spending with cooling PCE gives the Fed cover to cut. For a deeper explanation of how consumer price indices are constructed, the IMF's primer on inflation is a reliable starting point.

The official source is Bureau of Economic Analysis (BEA). Times shown are in UTC — see the time-zone table on this page for your local equivalent. The Federal Reserve's economic data page and ECB statistics portal also carry same-day updates.

Going into this release: Headline PCE (Oct 2026) was 2.6% (Year-on-year; above 2% target); Core PCE (Oct 2026) was 2.8% (Fed's preferred gauge, ex food & energy); Personal spending (Oct 2026) was +0.4% MoM (Solid consumer demand); Fed funds rate was 4.50–4.75% (After November FOMC hold). Historical releases and revisions are archived in the World Bank WDI inflation series.