The US PCE price index rose 0.4% month-over-month in December 2025, following a 0.2% increase in November, the most since February and above market expectations of 0.3%. Prices for goods were up 0.4%, accelerating from 0.1% in November while prices of services rose at a faster 0.3%, compared with 0.2% in November. Core PCE, which excludes food and energy, increased 0.4%, also above forecasts of 0.3%. Separately, prices for food rose 0.4% and cost for energy goods and services went up 0.2%, easing from a 1.7% rise. On an annual basis, headline PCE inflation accelerated to 2.9% from 2.8%, above forecasts of 2.8%. Core PCE inflation also edged up to 3% from 2.8% in November and above expectations of 2.9%. The PCE index remains the Federal Reserve’s preferred inflation gauge. source: U.S. Bureau of Economic Analysis

PCE Price Index Monthly Change in the United States increased to 0.40 percent in December from 0.20 percent in November of 2025. PCE Price Index Monthly Change in the United States averaged 0.27 percent from 1959 until 2025, 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 March of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-22 03:00 PM
PCE Price Index MoM
Nov 0.2% 0.2% 0.2% 0.2%
2026-02-20 01:30 PM
PCE Price Index MoM
Dec 0.4% 0.2% 0.3% 0.3%
2026-03-13 12:30 PM
PCE Price Index MoM
Jan 0.4% 0.2%


Related Last Previous Unit Reference
Core PCE Price Index 127.92 127.47 points Dec 2025
Core PCE Price Index YoY 3.00 2.83 percent Dec 2025
Core PCE Price Index MoM 0.40 0.20 percent Dec 2025
Core PCE Prices QoQ 2.70 2.90 percent Dec 2025
GDP Price Index 129.43 128.25 points Sep 2025
PCE Price Index 128.61 128.15 points Dec 2025
PCE Price Index YoY 2.90 2.80 percent Dec 2025
PCE Price Index MoM 0.40 0.20 percent Dec 2025
PCE Prices QoQ 2.90 2.80 percent Dec 2025


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 0.20 1.20 -1.20 1959 - 2025 percent Monthly
2017=100; SA

News Stream
US PCE Prices Rise More than Expected
The US PCE price index rose 0.4% month-over-month in December 2025, following a 0.2% increase in November, the most since February and above market expectations of 0.3%. Prices for goods were up 0.4%, accelerating from 0.1% in November while prices of services rose at a faster 0.3%, compared with 0.2% in November. Core PCE, which excludes food and energy, increased 0.4%, also above forecasts of 0.3%. Separately, prices for food rose 0.4% and cost for energy goods and services went up 0.2%, easing from a 1.7% rise. On an annual basis, headline PCE inflation accelerated to 2.9% from 2.8%, above forecasts of 2.8%. Core PCE inflation also edged up to 3% from 2.8% in November and above expectations of 2.9%. The PCE index remains the Federal Reserve’s preferred inflation gauge.
2026-02-20
US PCE Prices Expected to Rise Faster
The US PCE price index is expected to rise 0.3% month over month in December 2025, while the core PCE index which excludes food and energy, is also forecast to increase by 0.3%, compared with gains of 0.2% in November. On a year-on-year basis, the PCE inflation likely steadied at 2.8% while the core rate is seen edging higher to 2.9% from 2.8%. The PCE price index, the Federal Reserve’s preferred measure of inflation, is expected to show in its December report that progress in bringing inflation down has slowed, with price pressures remaining stubbornly above the Fed’s 2% target.
2026-02-20
US PCE Prices Edge Up 0.2%, Meeting Expectations
The US PCE price index rose 0.2% month-over-month in November 2025, the same as in October and in line with expectations. Prices for goods were up 0.2%, rebounding from a 0.1% fall in October while prices of services rose at a slower 0.2%, compared to 0.3% in October. Core PCE, which excludes food and energy, increased 0.2%, also the same as in September and matching forecasts. Separately, prices for food stalled and cost for energy goods and services soared 1.9%, after a 0.7% rise drop. On an annual basis, headline PCE inflation accelerated to 2.8% from 2.7% as expected. Core PCE inflation also edged up to 2.8% from 2.7% in October and in line with expectations. The PCE index remains the Federal Reserve’s preferred inflation gauge.
2026-01-22