what is core pce price index

The Core PCE Price Index is a measure of inflation in the US economy. It is calculated using PCE data and measures the prices consumers pay for goods and services, excluding food and energy prices. The PCE Price Index, including the Core PCE Price Index, is released as part of the monthly Personal Income and Outlays report. The Core PCE Price Index is considered a gauge of underlying inflation trends because food and energy prices can obscure it due to their more frequent volatility compared to other prices. The Core PCE Price Index is expected to be 0.20 percent by the end of the third quarter of 2023.