United States Core PCE Prices QoQ 2nd Est

最新数据

最新一期（Q2）于 2026-08-26 公布，数值为 3.6%。 高于 3.4% 的市场预期。 低于上次的 4.4%。

A higher figure than expected makes the Federal Reserve more likely to keep rates high or raise them: it tends to support the US dollar and push bond yields up, and is often a weight on stocks.

最近 6 次公布中介于 2.5% 至 4.4%，平均 3.2%。

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为何重要

In the United States the Federal Reserve's 2% target is defined on the PCE price index, and the core measure (without food and energy) is the one policymakers quote most. Because CPI comes out first, markets usually know roughly what PCE will show; surprises come from the parts measured differently, such as health care.

计算方法

PCE prices are built from the same price data as CPI and producer prices, but weighted by what households actually spend (including what is paid on their behalf, like employer health insurance), and the weights change every period. The GDP deflator divides nominal GDP by real GDP.

Deflator = nominal GDP ÷ real GDP × 100
PCE inflation = PCE index ÷ PCE index a year ago − 1

变化意味着什么

• Core PCE above 2% and rising keeps the Fed cautious about cutting rates.
• The monthly change annualised (× 12) shows the latest pace; three-month averages smooth the noise.

简史

The Fed switched its preferred inflation measure from CPI to PCE in 2000 and wrote the 2% PCE target into its strategy in 2012.

问题