Keeping you up to date on the latest data releases.
- PCE Price Index
The Personal Consumption Expenditure (PCE) price index was virtually unchanged in November, edging down at an annualized rate of 0.5 percent. On a year-over-year basis, PCE inflation has started to decelerate—largely on decreasing energy prices—and stands at 2.5 percent as of November (down 0.4 percentage points from its recent high of 2.9 percent in September). Excluding food and energy prices, the “core” PCE price index rose 1.0 percent in November, following a 0.8 percent increase in October. Upward pressure on the core PCE price index seen over the middle-months of the year appears to have dissipated, as the near-term (3 month) growth rate in the series has fallen from a recent cyclical high of 2.5 percent in July down to just 0.6 percent as of November. Over the past year, the index is up 1.7 percent. The market-based core PCE—a subgroup of the core index that only excludes most imputed prices—increased 1.6 percent in November, after an upwardly revised (but still subdued) 0.6 percent increase in October. The 12-month growth rate in the market-based core index remained at 1.7 percent in November.