US inflation: PCE, core PCE and CPI

US inflation: PCE, core PCE and CPI: 3 lines from the US Rates, Growth and Inflation snapshot, Jan 1962 – Sep 2026. Latest PCE: 3.65% in Sep 2026 (verified), from Bureau of Economic Analysis via FRED.

1 chart · 3 lines · Monthly · Jan 1962 – Sep 2026 · snapshot us-rates-94b9517e620b8db2 · published 1 Nov 2026

US inflation: PCE, core PCE and CPI

Twelve-month inflation in the PCE price index the Fed targets, in core PCE excluding food and energy, and in the CPI. The CPI line is kept beside PCE so the wedge between them can be read on one chart.

Lines

per cent

January 1962 PCE: 0.71% Core PCE: 1.27% CPI: 0.67%February 1962 PCE: 0.89% Core PCE: 1.33% CPI: 1.01%March 1962 PCE: 1.08% Core PCE: 1.54% CPI: 1.01%April 1962 PCE: 1.25% Core PCE: 1.42% CPI: 1.34%May 1962 PCE: 1.26% Core PCE: 1.43% CPI: 1.34%June 1962 PCE: 1.28% Core PCE: 1.46% CPI: 1.34%July 1962 PCE: 1.00% Core PCE: 1.39% CPI: 1.00%August 1962 PCE: 1.06% Core PCE: 1.30% CPI: 1.34%September 1962 PCE: 1.44% Core PCE: 1.30% CPI: 1.33%October 1962 PCE: 1.35% Core PCE: 1.26% CPI: 1.33%November 1962 PCE: 1.41% Core PCE: 1.31% CPI: 1.33%December 1962 PCE: 1.35% Core PCE: 1.26% CPI: 1.33%January 1963 PCE: 1.40% Core PCE: 1.33% CPI: 1.33%February 1963 PCE: 1.24% Core PCE: 1.28% CPI: 1.00%March 1963 PCE: 1.02% Core PCE: 1.10% CPI: 1.33%April 1963 PCE: 0.90% Core PCE: 1.21% CPI: 0.99%May 1963 PCE: 1.00% Core PCE: 1.25% CPI: 0.99%June 1963 PCE: 1.16% Core PCE: 1.24% CPI: 1.32%July 1963 PCE: 1.42% Core PCE: 1.24% CPI: 1.32%August 1963 PCE: 1.41% Core PCE: 1.32% CPI: 1.32%September 1963 PCE: 0.90% Core PCE: 1.30% CPI: 0.99%October 1963 PCE: 1.19% Core PCE: 1.54% CPI: 1.32%November 1963 PCE: 1.27% Core PCE: 1.55% CPI: 1.32%December 1963 PCE: 1.45% Core PCE: 1.67% CPI: 1.64%January 1964 PCE: 1.42% Core PCE: 1.62% CPI: 1.64%February 1964 PCE: 1.45% Core PCE: 1.69% CPI: 1.64%March 1964 PCE: 1.60% Core PCE: 1.73% CPI: 1.31%April 1964 PCE: 1.68% Core PCE: 1.70% CPI: 1.31%May 1964 PCE: 1.53% Core PCE: 1.60% CPI: 1.31%June 1964 PCE: 1.45% Core PCE: 1.50% CPI: 1.31%July 1964 PCE: 1.38% Core PCE: 1.51% CPI: 1.30%August 1964 PCE: 1.32% Core PCE: 1.55% CPI: 0.98%September 1964 PCE: 1.49% Core PCE: 1.41% CPI: 1.30%October 1964 PCE: 1.36% Core PCE: 1.22% CPI: 0.97%November 1964 PCE: 1.35% Core PCE: 1.28% CPI: 1.30%December 1964 PCE: 1.35% Core PCE: 1.28% CPI: 0.97%January 1965 PCE: 1.25% Core PCE: 1.27% CPI: 0.97%February 1965 PCE: 1.15% Core PCE: 1.20% CPI: 0.97%March 1965 PCE: 1.22% Core PCE: 1.16% CPI: 1.29%April 1965 PCE: 1.30% Core PCE: 1.19% CPI: 1.62%May 1965 PCE: 1.52% Core PCE: 1.29% CPI: 1.62%June 1965 PCE: 1.67% Core PCE: 1.20% CPI: 1.94%July 1965 PCE: 1.61% Core PCE: 1.19% CPI: 1.61%August 1965 PCE: 1.56% Core PCE: 1.25% CPI: 1.94%September 1965 PCE: 1.46% Core PCE: 1.33% CPI: 1.61%October 1965 PCE: 1.42% Core PCE: 1.25% CPI: 1.93%November 1965 PCE: 1.45% Core PCE: 1.30% CPI: 1.60%December 1965 PCE: 1.67% Core PCE: 1.46% CPI: 1.92%January 1966 PCE: 1.68% Core PCE: 1.35% CPI: 1.92%February 1966 PCE: 2.06% Core PCE: 1.48% CPI: 2.56%March 1966 PCE: 2.18% Core PCE: 1.55% CPI: 2.56%April 1966 PCE: 2.37% Core PCE: 1.80% CPI: 2.87%May 1966 PCE: 2.26% Core PCE: 1.88% CPI: 2.87%June 1966 PCE: 2.22% Core PCE: 2.23% CPI: 2.53%July 1966 PCE: 2.35% Core PCE: 2.43% CPI: 2.85%August 1966 PCE: 2.71% Core PCE: 2.43% CPI: 3.48%September 1966 PCE: 2.99% Core PCE: 2.62% CPI: 3.48%October 1966 PCE: 3.23% Core PCE: 2.99% CPI: 3.79%November 1966 PCE: 3.21% Core PCE: 3.06% CPI: 3.79%December 1966 PCE: 3.05% Core PCE: 3.06% CPI: 3.46%January 1967 PCE: 2.93% Core PCE: 3.12% CPI: 3.46%February 1967 PCE: 2.63% Core PCE: 3.06% CPI: 2.81%March 1967 PCE: 2.43% Core PCE: 3.08% CPI: 2.80%April 1967 PCE: 2.25% Core PCE: 3.00% CPI: 2.48%May 1967 PCE: 2.32% Core PCE: 2.95% CPI: 2.79%June 1967 PCE: 2.39% Core PCE: 2.88% CPI: 2.78%July 1967 PCE: 2.54% Core PCE: 2.92% CPI: 2.77%August 1967 PCE: 2.47% Core PCE: 3.05% CPI: 2.45%September 1967 PCE: 2.45% Core PCE: 3.10% CPI: 2.75%October 1967 PCE: 2.47% Core PCE: 3.15% CPI: 2.43%November 1967 PCE: 2.66% Core PCE: 3.22% CPI: 2.74%December 1967 PCE: 2.61% Core PCE: 3.16% CPI: 3.04%January 1968 PCE: 3.08% Core PCE: 3.52% CPI: 3.65%February 1968 PCE: 3.38% Core PCE: 3.78% CPI: 3.95%March 1968 PCE: 3.66% Core PCE: 4.03% CPI: 3.94%April 1968 PCE: 3.81% Core PCE: 4.13% CPI: 3.93%May 1968 PCE: 3.99% Core PCE: 4.29% CPI: 3.92%June 1968 PCE: 4.00% Core PCE: 4.44% CPI: 4.20%July 1968 PCE: 3.96% Core PCE: 4.43% CPI: 4.49%August 1968 PCE: 4.06% Core PCE: 4.52% CPI: 4.48%September 1968 PCE: 4.11% Core PCE: 4.57% CPI: 4.46%October 1968 PCE: 4.27% Core PCE: 4.60% CPI: 4.75%November 1968 PCE: 4.28% Core PCE: 4.67% CPI: 4.73%December 1968 PCE: 4.33% Core PCE: 4.72% CPI: 4.72%January 1969 PCE: 4.25% Core PCE: 4.65% CPI: 4.40%February 1969 PCE: 4.10% Core PCE: 4.56% CPI: 4.68%March 1969 PCE: 4.25% Core PCE: 4.63% CPI: 5.25%April 1969 PCE: 4.38% Core PCE: 4.65% CPI: 5.52%May 1969 PCE: 4.41% Core PCE: 4.68% CPI: 5.51%June 1969 PCE: 4.58% Core PCE: 4.63% CPI: 5.48%July 1969 PCE: 4.72% Core PCE: 4.76% CPI: 5.44%August 1969 PCE: 4.58% Core PCE: 4.65% CPI: 5.71%September 1969 PCE: 4.65% Core PCE: 4.65% CPI: 5.70%October 1969 PCE: 4.55% Core PCE: 4.67% CPI: 5.67%November 1969 PCE: 4.65% Core PCE: 4.67% CPI: 5.93%December 1969 PCE: 4.91% Core PCE: 4.75% CPI: 6.20%January 1970 PCE: 4.88% Core PCE: 4.70% CPI: 6.18%February 1970 PCE: 5.03% Core PCE: 4.74% CPI: 6.15%March 1970 PCE: 4.79% Core PCE: 4.64% CPI: 5.82%April 1970 PCE: 4.86% Core PCE: 4.65% CPI: 6.06%May 1970 PCE: 4.77% Core PCE: 4.61% CPI: 6.04%June 1970 PCE: 4.54% Core PCE: 4.62% CPI: 6.01%July 1970 PCE: 4.46% Core PCE: 4.53% CPI: 5.98%August 1970 PCE: 4.45% Core PCE: 4.60% CPI: 5.41%September 1970 PCE: 4.48% Core PCE: 4.62% CPI: 5.66%October 1970 PCE: 4.65% Core PCE: 4.68% CPI: 5.63%November 1970 PCE: 4.60% Core PCE: 4.82% CPI: 5.60%December 1970 PCE: 4.59% Core PCE: 4.96% CPI: 5.57%January 1971 PCE: 4.44% Core PCE: 5.03% CPI: 5.29%February 1971 PCE: 4.33% Core PCE: 5.02% CPI: 5.00%March 1971 PCE: 4.41% Core PCE: 4.97% CPI: 4.71%April 1971 PCE: 4.30% Core PCE: 4.95% CPI: 4.16%May 1971 PCE: 4.40% Core PCE: 5.03% CPI: 4.40%June 1971 PCE: 4.59% Core PCE: 5.07% CPI: 4.64%July 1971 PCE: 4.52% Core PCE: 5.07% CPI: 4.36%August 1971 PCE: 4.55% Core PCE: 4.86% CPI: 4.62%September 1971 PCE: 4.24% Core PCE: 4.59% CPI: 4.08%October 1971 PCE: 3.88% Core PCE: 4.24% CPI: 3.81%November 1971 PCE: 3.69% Core PCE: 3.94% CPI: 3.28%December 1971 PCE: 3.64% Core PCE: 3.75% CPI: 3.27%January 1972 PCE: 3.84% Core PCE: 3.78% CPI: 3.27%February 1972 PCE: 3.95% Core PCE: 3.67% CPI: 3.51%March 1972 PCE: 3.76% Core PCE: 3.54% CPI: 3.50%April 1972 PCE: 3.51% Core PCE: 3.39% CPI: 3.49%May 1972 PCE: 3.31% Core PCE: 3.18% CPI: 3.23%June 1972 PCE: 3.01% Core PCE: 2.98% CPI: 2.71%July 1972 PCE: 3.07% Core PCE: 2.88% CPI: 2.95%August 1972 PCE: 3.07% Core PCE: 2.96% CPI: 2.94%September 1972 PCE: 3.37% Core PCE: 3.13% CPI: 3.19%October 1972 PCE: 3.33% Core PCE: 3.03% CPI: 3.42%November 1972 PCE: 3.42% Core PCE: 3.07% CPI: 3.67%December 1972 PCE: 3.35% Core PCE: 3.05% CPI: 3.41%January 1973 PCE: 3.24% Core PCE: 2.68% CPI: 3.65%February 1973 PCE: 3.37% Core PCE: 2.73% CPI: 3.87%March 1973 PCE: 3.96% Core PCE: 2.94% CPI: 4.59%April 1973 PCE: 4.57% Core PCE: 3.30% CPI: 5.06%May 1973 PCE: 4.85% Core PCE: 3.46% CPI: 5.53%June 1973 PCE: 5.29% Core PCE: 3.69% CPI: 6.00%July 1973 PCE: 5.30% Core PCE: 3.84% CPI: 5.73%August 1973 PCE: 6.20% Core PCE: 4.10% CPI: 7.38%September 1973 PCE: 6.15% Core PCE: 4.28% CPI: 7.36%October 1973 PCE: 6.63% Core PCE: 4.62% CPI: 7.80%November 1973 PCE: 7.18% Core PCE: 4.85% CPI: 8.25%December 1973 PCE: 7.72% Core PCE: 5.12% CPI: 8.71%January 1974 PCE: 8.43% Core PCE: 5.57% CPI: 9.39%February 1974 PCE: 9.12% Core PCE: 5.91% CPI: 10.02%March 1974 PCE: 9.60% Core PCE: 6.30% CPI: 10.39%April 1974 PCE: 9.56% Core PCE: 6.48% CPI: 10.09%May 1974 PCE: 10.10% Core PCE: 7.09% CPI: 10.71%June 1974 PCE: 10.41% Core PCE: 7.72% CPI: 10.86%July 1974 PCE: 10.82% Core PCE: 8.22% CPI: 11.51%August 1974 PCE: 10.70% Core PCE: 8.75% CPI: 10.86%September 1974 PCE: 11.41% Core PCE: 9.18% CPI: 11.95%October 1974 PCE: 11.57% Core PCE: 9.61% CPI: 12.06%November 1974 PCE: 11.50% Core PCE: 9.88% CPI: 12.20%December 1974 PCE: 11.46% Core PCE: 10.04% CPI: 12.34%January 1975 PCE: 11.09% Core PCE: 10.14% CPI: 11.80%February 1975 PCE: 10.41% Core PCE: 10.22% CPI: 11.23%March 1975 PCE: 9.51% Core PCE: 9.94% CPI: 10.25%April 1975 PCE: 9.11% Core PCE: 9.65% CPI: 10.21%May 1975 PCE: 8.48% Core PCE: 9.07% CPI: 9.47%June 1975 PCE: 8.24% Core PCE: 8.49% CPI: 9.39%July 1975 PCE: 8.37% Core PCE: 8.20% CPI: 9.72%August 1975 PCE: 7.71% Core PCE: 7.54% CPI: 8.60%September 1975 PCE: 7.13% Core PCE: 7.16% CPI: 7.91%October 1975 PCE: 6.99% Core PCE: 6.86% CPI: 7.44%November 1975 PCE: 6.87% Core PCE: 6.78% CPI: 7.38%December 1975 PCE: 6.62% Core PCE: 6.68% CPI: 6.94%January 1976 PCE: 6.36% Core PCE: 6.60% CPI: 6.72%February 1976 PCE: 5.93% Core PCE: 6.28% CPI: 6.29%March 1976 PCE: 5.73% Core PCE: 6.07% CPI: 6.07%April 1976 PCE: 5.61% Core PCE: 5.97% CPI: 6.05%May 1976 PCE: 5.69% Core PCE: 6.02% CPI: 6.20%June 1976 PCE: 5.49% Core PCE: 5.94% CPI: 5.97%July 1976 PCE: 5.13% Core PCE: 5.87% CPI: 5.35%August 1976 PCE: 5.25% Core PCE: 6.11% CPI: 5.71%September 1976 PCE: 5.32% Core PCE: 6.16% CPI: 5.49%October 1976 PCE: 5.26% Core PCE: 6.15% CPI: 5.46%November 1976 PCE: 5.06% Core PCE: 5.93% CPI: 4.88%December 1976 PCE: 5.07% Core PCE: 5.86% CPI: 4.86%January 1977 PCE: 5.28% Core PCE: 5.97% CPI: 5.22%February 1977 PCE: 5.97% Core PCE: 6.19% CPI: 5.91%March 1977 PCE: 6.34% Core PCE: 6.29% CPI: 6.44%April 1977 PCE: 6.72% Core PCE: 6.40% CPI: 6.95%May 1977 PCE: 6.75% Core PCE: 6.44% CPI: 6.73%June 1977 PCE: 6.88% Core PCE: 6.64% CPI: 6.87%July 1977 PCE: 6.89% Core PCE: 6.72% CPI: 6.83%August 1977 PCE: 6.80% Core PCE: 6.62% CPI: 6.62%September 1977 PCE: 6.60% Core PCE: 6.45% CPI: 6.60%October 1977 PCE: 6.54% Core PCE: 6.44% CPI: 6.39%November 1977 PCE: 6.67% Core PCE: 6.51% CPI: 6.72%December 1977 PCE: 6.59% Core PCE: 6.48% CPI: 6.70%January 1978 PCE: 6.60% Core PCE: 6.47% CPI: 6.84%February 1978 PCE: 6.26% Core PCE: 6.23% CPI: 6.43%March 1978 PCE: 6.42% Core PCE: 6.35% CPI: 6.55%April 1978 PCE: 6.60% Core PCE: 6.52% CPI: 6.50%May 1978 PCE: 6.83% Core PCE: 6.60% CPI: 6.97%June 1978 PCE: 6.92% Core PCE: 6.56% CPI: 7.41%July 1978 PCE: 6.95% Core PCE: 6.53% CPI: 7.70%August 1978 PCE: 7.00% Core PCE: 6.57% CPI: 7.84%September 1978 PCE: 7.20% Core PCE: 6.74% CPI: 8.31%October 1978 PCE: 7.55% Core PCE: 7.00% CPI: 8.93%November 1978 PCE: 7.55% Core PCE: 7.02% CPI: 8.89%December 1978 PCE: 7.53% Core PCE: 6.89% CPI: 9.02%January 1979 PCE: 7.70% Core PCE: 6.80% CPI: 9.28%February 1979 PCE: 7.78% Core PCE: 6.74% CPI: 9.86%March 1979 PCE: 7.92% Core PCE: 6.77% CPI: 10.09%April 1979 PCE: 8.23% Core PCE: 7.06% CPI: 10.49%May 1979 PCE: 8.57% Core PCE: 7.36% CPI: 10.85%June 1979 PCE: 8.76% Core PCE: 7.36% CPI: 10.89%July 1979 PCE: 8.99% Core PCE: 7.27% CPI: 11.26%August 1979 PCE: 9.27% Core PCE: 7.41% CPI: 11.82%September 1979 PCE: 9.61% Core PCE: 7.52% CPI: 12.18%October 1979 PCE: 9.63% Core PCE: 7.52% CPI: 12.07%November 1979 PCE: 9.77% Core PCE: 7.62% CPI: 12.61%December 1979 PCE: 10.18% Core PCE: 7.98% CPI: 13.29%January 1980 PCE: 10.50% Core PCE: 8.24% CPI: 13.91%February 1980 PCE: 11.10% Core PCE: 8.97% CPI: 14.18%March 1980 PCE: 11.60% Core PCE: 9.35% CPI: 14.76%April 1980 PCE: 11.02% Core PCE: 8.90% CPI: 14.73%May 1980 PCE: 10.74% Core PCE: 8.84% CPI: 14.41%June 1980 PCE: 10.52% Core PCE: 8.95% CPI: 14.38%July 1980 PCE: 10.54% Core PCE: 9.16% CPI: 13.13%August 1980 PCE: 10.61% Core PCE: 9.23% CPI: 12.87%September 1980 PCE: 10.66% Core PCE: 9.51% CPI: 12.60%October 1980 PCE: 10.64% Core PCE: 9.61% CPI: 12.77%November 1980 PCE: 10.78% Core PCE: 9.78% CPI: 12.65%December 1980 PCE: 10.57% Core PCE: 9.65% CPI: 12.52%January 1981 PCE: 10.47% Core PCE: 9.76% CPI: 11.83%February 1981 PCE: 10.39% Core PCE: 9.47% CPI: 11.41%March 1981 PCE: 9.81% Core PCE: 9.07% CPI: 10.49%April 1981 PCE: 9.72% Core PCE: 9.21% CPI: 10.00%May 1981 PCE: 9.36% Core PCE: 9.08% CPI: 9.78%June 1981 PCE: 9.11% Core PCE: 8.90% CPI: 9.55%July 1981 PCE: 8.92% Core PCE: 8.80% CPI: 10.76%August 1981 PCE: 8.70% Core PCE: 8.74% CPI: 10.80%September 1981 PCE: 8.35% Core PCE: 8.43% CPI: 10.95%October 1981 PCE: 7.98% Core PCE: 8.18% CPI: 10.14%November 1981 PCE: 7.68% Core PCE: 7.97% CPI: 9.59%December 1981 PCE: 7.32% Core PCE: 7.72% CPI: 8.92%January 1982 PCE: 6.93% Core PCE: 7.45% CPI: 8.39%February 1982 PCE: 6.18% Core PCE: 7.08% CPI: 7.62%March 1982 PCE: 5.71% Core PCE: 6.95% CPI: 6.78%April 1982 PCE: 5.31% Core PCE: 6.69% CPI: 6.51%May 1982 PCE: 5.46% Core PCE: 6.54% CPI: 6.68%June 1982 PCE: 5.80% Core PCE: 6.54% CPI: 7.06%July 1982 PCE: 5.79% Core PCE: 6.59% CPI: 6.44%August 1982 PCE: 5.46% Core PCE: 6.37% CPI: 5.85%September 1982 PCE: 5.11% Core PCE: 6.07% CPI: 5.04%October 1982 PCE: 5.23% Core PCE: 6.11% CPI: 5.14%November 1982 PCE: 4.98% Core PCE: 5.88% CPI: 4.59%December 1982 PCE: 4.81% Core PCE: 5.83% CPI: 3.83%January 1983 PCE: 4.68% Core PCE: 5.90% CPI: 3.71%February 1983 PCE: 4.54% Core PCE: 5.89% CPI: 3.49%March 1983 PCE: 4.41% Core PCE: 5.56% CPI: 3.60%April 1983 PCE: 4.83% Core PCE: 5.46% CPI: 3.90%May 1983 PCE: 4.51% Core PCE: 5.04% CPI: 3.55%June 1983 PCE: 4.15% Core PCE: 5.01% CPI: 2.58%July 1983 PCE: 4.12% Core PCE: 5.03% CPI: 2.46%August 1983 PCE: 4.24% Core PCE: 5.09% CPI: 2.56%September 1983 PCE: 4.32% Core PCE: 5.13% CPI: 2.86%October 1983 PCE: 3.91% Core PCE: 4.65% CPI: 2.85%November 1983 PCE: 3.74% Core PCE: 4.51% CPI: 3.27%December 1983 PCE: 3.64% Core PCE: 4.25% CPI: 3.79%January 1984 PCE: 3.61% Core PCE: 3.89% CPI: 4.19%February 1984 PCE: 4.13% Core PCE: 4.16% CPI: 4.60%March 1984 PCE: 4.34% Core PCE: 4.42% CPI: 4.80%April 1984 PCE: 4.26% Core PCE: 4.60% CPI: 4.56%May 1984 PCE: 4.10% Core PCE: 4.69% CPI: 4.23%June 1984 PCE: 3.90% Core PCE: 4.45% CPI: 4.22%July 1984 PCE: 3.68% Core PCE: 4.19% CPI: 4.20%August 1984 PCE: 3.56% Core PCE: 4.00% CPI: 4.29%September 1984 PCE: 3.34% Core PCE: 3.74% CPI: 4.27%October 1984 PCE: 3.40% Core PCE: 3.79% CPI: 4.26%November 1984 PCE: 3.40% Core PCE: 3.77% CPI: 4.05%December 1984 PCE: 3.64% Core PCE: 4.10% CPI: 3.95%January 1985 PCE: 3.70% Core PCE: 4.34% CPI: 3.53%February 1985 PCE: 3.49% Core PCE: 4.22% CPI: 3.52%March 1985 PCE: 3.56% Core PCE: 4.19% CPI: 3.70%April 1985 PCE: 3.31% Core PCE: 3.83% CPI: 3.69%May 1985 PCE: 3.43% Core PCE: 3.94% CPI: 3.77%June 1985 PCE: 3.52% Core PCE: 4.04% CPI: 3.76%July 1985 PCE: 3.41% Core PCE: 3.90% CPI: 3.55%August 1985 PCE: 3.43% Core PCE: 4.07% CPI: 3.35%September 1985 PCE: 3.47% Core PCE: 4.12% CPI: 3.14%October 1985 PCE: 3.39% Core PCE: 4.05% CPI: 3.23%November 1985 PCE: 3.55% Core PCE: 4.09% CPI: 3.51%December 1985 PCE: 3.60% Core PCE: 3.96% CPI: 3.80%January 1986 PCE: 3.56% Core PCE: 3.94% CPI: 3.89%February 1986 PCE: 3.09% Core PCE: 3.67% CPI: 3.11%March 1986 PCE: 2.46% Core PCE: 3.62% CPI: 2.26%April 1986 PCE: 2.10% Core PCE: 3.69% CPI: 1.59%May 1986 PCE: 2.05% Core PCE: 3.51% CPI: 1.49%June 1986 PCE: 2.15% Core PCE: 3.47% CPI: 1.77%July 1986 PCE: 1.92% Core PCE: 3.36% CPI: 1.58%August 1986 PCE: 1.72% Core PCE: 3.07% CPI: 1.57%September 1986 PCE: 1.88% Core PCE: 3.19% CPI: 1.75%October 1986 PCE: 1.89% Core PCE: 3.38% CPI: 1.47%November 1986 PCE: 1.78% Core PCE: 3.34% CPI: 1.28%December 1986 PCE: 1.58% Core PCE: 3.20% CPI: 1.10%January 1987 PCE: 1.59% Core PCE: 2.89% CPI: 1.46%February 1987 PCE: 1.94% Core PCE: 2.83% CPI: 2.10%March 1987 PCE: 2.44% Core PCE: 2.83% CPI: 3.03%April 1987 PCE: 3.03% Core PCE: 3.07% CPI: 3.78%May 1987 PCE: 3.10% Core PCE: 3.19% CPI: 3.86%June 1987 PCE: 3.11% Core PCE: 3.16% CPI: 3.65%July 1987 PCE: 3.32% Core PCE: 3.24% CPI: 3.93%August 1987 PCE: 3.60% Core PCE: 3.38% CPI: 4.28%September 1987 PCE: 3.61% Core PCE: 3.45% CPI: 4.36%October 1987 PCE: 3.75% Core PCE: 3.54% CPI: 4.53%November 1987 PCE: 3.76% Core PCE: 3.53% CPI: 4.53%December 1987 PCE: 3.81% Core PCE: 3.62% CPI: 4.43%January 1988 PCE: 3.73% Core PCE: 3.86% CPI: 4.05%February 1988 PCE: 3.52% Core PCE: 3.86% CPI: 3.94%March 1988 PCE: 3.60% Core PCE: 4.00% CPI: 3.93%April 1988 PCE: 3.72% Core PCE: 4.06% CPI: 3.90%May 1988 PCE: 3.75% Core PCE: 4.12% CPI: 3.89%June 1988 PCE: 3.80% Core PCE: 4.27% CPI: 3.96%July 1988 PCE: 4.07% Core PCE: 4.43% CPI: 4.13%August 1988 PCE: 3.96% Core PCE: 4.34% CPI: 4.02%September 1988 PCE: 4.12% Core PCE: 4.48% CPI: 4.17%October 1988 PCE: 4.13% Core PCE: 4.43% CPI: 4.25%November 1988 PCE: 4.17% Core PCE: 4.50% CPI: 4.25%December 1988 PCE: 4.30% Core PCE: 4.63% CPI: 4.42%January 1989 PCE: 4.43% Core PCE: 4.66% CPI: 4.67%February 1989 PCE: 4.63% Core PCE: 4.71% CPI: 4.83%March 1989 PCE: 4.66% Core PCE: 4.58% CPI: 4.98%April 1989 PCE: 4.84% Core PCE: 4.42% CPI: 5.12%May 1989 PCE: 4.92% Core PCE: 4.38% CPI: 5.36%June 1989 PCE: 4.71% Core PCE: 4.22% CPI: 5.17%July 1989 PCE: 4.45% Core PCE: 4.06% CPI: 4.98%August 1989 PCE: 4.15% Core PCE: 3.95% CPI: 4.71%September 1989 PCE: 3.88% Core PCE: 3.75% CPI: 4.34%October 1989 PCE: 3.94% Core PCE: 3.73% CPI: 4.49%November 1989 PCE: 3.93% Core PCE: 3.72% CPI: 4.66%December 1989 PCE: 3.91% Core PCE: 3.68% CPI: 4.65%January 1990 PCE: 4.16% Core PCE: 3.55% CPI: 5.20%February 1990 PCE: 4.27% Core PCE: 3.79% CPI: 5.26%March 1990 PCE: 4.28% Core PCE: 3.98% CPI: 5.23%April 1990 PCE: 3.80% Core PCE: 3.94% CPI: 4.71%May 1990 PCE: 3.66% Core PCE: 3.95% CPI: 4.36%June 1990 PCE: 3.89% Core PCE: 4.07% CPI: 4.67%July 1990 PCE: 3.90% Core PCE: 4.07% CPI: 4.82%August 1990 PCE: 4.58% Core PCE: 4.36% CPI: 5.62%September 1990 PCE: 4.98% Core PCE: 4.36% CPI: 6.16%October 1990 PCE: 5.17% Core PCE: 4.33% CPI: 6.29%November 1990 PCE: 5.08% Core PCE: 4.18% CPI: 6.27%December 1990 PCE: 4.87% Core PCE: 4.03% CPI: 6.11%January 1991 PCE: 4.48% Core PCE: 4.15% CPI: 5.65%February 1991 PCE: 4.08% Core PCE: 3.93% CPI: 5.31%March 1991 PCE: 3.71% Core PCE: 3.65% CPI: 4.90%April 1991 PCE: 3.68% Core PCE: 3.55% CPI: 4.89%May 1991 PCE: 3.87% Core PCE: 3.65% CPI: 4.95%June 1991 PCE: 3.59% Core PCE: 3.47% CPI: 4.70%July 1991 PCE: 3.50% Core PCE: 3.52% CPI: 4.45%August 1991 PCE: 3.05% Core PCE: 3.38% CPI: 3.80%September 1991 PCE: 2.78% Core PCE: 3.43% CPI: 3.39%October 1991 PCE: 2.38% Core PCE: 3.31% CPI: 2.92%November 1991 PCE: 2.48% Core PCE: 3.37% CPI: 2.99%December 1991 PCE: 2.64% Core PCE: 3.48% CPI: 3.06%January 1992 PCE: 2.39% Core PCE: 3.25% CPI: 2.60%February 1992 PCE: 2.60% Core PCE: 3.25% CPI: 2.82%March 1992 PCE: 2.82% Core PCE: 3.29% CPI: 3.19%April 1992 PCE: 2.91% Core PCE: 3.42% CPI: 3.18%May 1992 PCE: 2.63% Core PCE: 3.16% CPI: 3.02%June 1992 PCE: 2.63% Core PCE: 3.01% CPI: 3.09%July 1992 PCE: 2.81% Core PCE: 3.09% CPI: 3.16%August 1992 PCE: 2.71% Core PCE: 2.90% CPI: 3.15%September 1992 PCE: 2.52% Core PCE: 2.66% CPI: 2.99%October 1992 PCE: 2.70% Core PCE: 2.82% CPI: 3.20%November 1992 PCE: 2.67% Core PCE: 2.86% CPI: 3.05%December 1992 PCE: 2.59% Core PCE: 2.80% CPI: 2.90%January 1993 PCE: 2.70% Core PCE: 2.81% CPI: 3.26%February 1993 PCE: 2.60% Core PCE: 2.73% CPI: 3.25%March 1993 PCE: 2.56% Core PCE: 2.70% CPI: 3.09%April 1993 PCE: 2.56% Core PCE: 2.66% CPI: 3.23%May 1993 PCE: 2.74% Core PCE: 2.86% CPI: 3.22%June 1993 PCE: 2.59% Core PCE: 2.88% CPI: 3.00%July 1993 PCE: 2.42% Core PCE: 2.71% CPI: 2.78%August 1993 PCE: 2.45% Core PCE: 2.81% CPI: 2.77%September 1993 PCE: 2.39% Core PCE: 2.79% CPI: 2.69%October 1993 PCE: 2.35% Core PCE: 2.57% CPI: 2.75%November 1993 PCE: 2.35% Core PCE: 2.61% CPI: 2.68%December 1993 PCE: 2.19% Core PCE: 2.46% CPI: 2.75%January 1994 PCE: 1.98% Core PCE: 2.25% CPI: 2.52%February 1994 PCE: 2.06% Core PCE: 2.27% CPI: 2.52%March 1994 PCE: 2.13% Core PCE: 2.40% CPI: 2.51%April 1994 PCE: 1.98% Core PCE: 2.25% CPI: 2.36%May 1994 PCE: 1.81% Core PCE: 2.14% CPI: 2.29%June 1994 PCE: 2.03% Core PCE: 2.27% CPI: 2.49%July 1994 PCE: 2.19% Core PCE: 2.27% CPI: 2.77%August 1994 PCE: 2.25% Core PCE: 2.19% CPI: 2.90%September 1994 PCE: 2.25% Core PCE: 2.19% CPI: 2.96%October 1994 PCE: 2.11% Core PCE: 2.27% CPI: 2.61%November 1994 PCE: 2.11% Core PCE: 2.19% CPI: 2.67%December 1994 PCE: 2.15% Core PCE: 2.18% CPI: 2.67%January 1995 PCE: 2.32% Core PCE: 2.35% CPI: 2.80%February 1995 PCE: 2.27% Core PCE: 2.30% CPI: 2.86%March 1995 PCE: 2.17% Core PCE: 2.20% CPI: 2.85%April 1995 PCE: 2.32% Core PCE: 2.28% CPI: 3.05%May 1995 PCE: 2.33% Core PCE: 2.23% CPI: 3.19%June 1995 PCE: 2.18% Core PCE: 2.09% CPI: 3.04%July 1995 PCE: 1.99% Core PCE: 2.04% CPI: 2.76%August 1995 PCE: 1.97% Core PCE: 2.17% CPI: 2.62%September 1995 PCE: 1.93% Core PCE: 2.15% CPI: 2.54%October 1995 PCE: 2.02% Core PCE: 2.16% CPI: 2.81%November 1995 PCE: 1.82% Core PCE: 2.04% CPI: 2.61%December 1995 PCE: 1.95% Core PCE: 2.14% CPI: 2.54%January 1996 PCE: 1.97% Core PCE: 2.01% CPI: 2.73%February 1996 PCE: 1.95% Core PCE: 1.97% CPI: 2.65%March 1996 PCE: 2.07% Core PCE: 1.96% CPI: 2.84%April 1996 PCE: 2.11% Core PCE: 1.86% CPI: 2.90%May 1996 PCE: 2.13% Core PCE: 1.86% CPI: 2.89%June 1996 PCE: 2.03% Core PCE: 1.85% CPI: 2.75%July 1996 PCE: 2.12% Core PCE: 1.88% CPI: 2.95%August 1996 PCE: 1.99% Core PCE: 1.73% CPI: 2.88%September 1996 PCE: 2.21% Core PCE: 1.90% CPI: 3.00%October 1996 PCE: 2.26% Core PCE: 1.90% CPI: 2.99%November 1996 PCE: 2.44% Core PCE: 1.96% CPI: 3.26%December 1996 PCE: 2.36% Core PCE: 1.86% CPI: 3.32%January 1997 PCE: 2.27% Core PCE: 1.85% CPI: 3.04%February 1997 PCE: 2.32% Core PCE: 1.93% CPI: 3.03%March 1997 PCE: 2.12% Core PCE: 1.94% CPI: 2.76%April 1997 PCE: 1.92% Core PCE: 2.00% CPI: 2.50%May 1997 PCE: 1.69% Core PCE: 1.90% CPI: 2.23%June 1997 PCE: 1.83% Core PCE: 1.97% CPI: 2.30%July 1997 PCE: 1.67% Core PCE: 1.85% CPI: 2.23%August 1997 PCE: 1.66% Core PCE: 1.72% CPI: 2.23%September 1997 PCE: 1.61% Core PCE: 1.62% CPI: 2.15%October 1997 PCE: 1.44% Core PCE: 1.53% CPI: 2.08%November 1997 PCE: 1.26% Core PCE: 1.43% CPI: 1.83%December 1997 PCE: 1.13% Core PCE: 1.45% CPI: 1.70%January 1998 PCE: 1.04% Core PCE: 1.50% CPI: 1.57%February 1998 PCE: 0.78% Core PCE: 1.38% CPI: 1.44%March 1998 PCE: 0.69% Core PCE: 1.24% CPI: 1.38%April 1998 PCE: 0.72% Core PCE: 1.23% CPI: 1.44%May 1998 PCE: 0.90% Core PCE: 1.26% CPI: 1.69%June 1998 PCE: 0.69% Core PCE: 0.98% CPI: 1.68%July 1998 PCE: 0.88% Core PCE: 1.19% CPI: 1.68%August 1998 PCE: 0.93% Core PCE: 1.43% CPI: 1.62%September 1998 PCE: 0.63% Core PCE: 1.21% CPI: 1.49%October 1998 PCE: 0.72% Core PCE: 1.25% CPI: 1.49%November 1998 PCE: 0.72% Core PCE: 1.24% CPI: 1.55%December 1998 PCE: 0.84% Core PCE: 1.35% CPI: 1.61%January 1999 PCE: 0.94% Core PCE: 1.34% CPI: 1.67%February 1999 PCE: 0.93% Core PCE: 1.22% CPI: 1.61%March 1999 PCE: 0.99% Core PCE: 1.14% CPI: 1.73%April 1999 PCE: 1.35% Core PCE: 1.22% CPI: 2.28%May 1999 PCE: 1.28% Core PCE: 1.22% CPI: 2.09%June 1999 PCE: 1.40% Core PCE: 1.40% CPI: 1.96%July 1999 PCE: 1.42% Core PCE: 1.29% CPI: 2.14%August 1999 PCE: 1.46% Core PCE: 1.15% CPI: 2.26%September 1999 PCE: 1.89% Core PCE: 1.43% CPI: 2.63%October 1999 PCE: 1.83% Core PCE: 1.41% CPI: 2.56%November 1999 PCE: 1.92% Core PCE: 1.49% CPI: 2.62%December 1999 PCE: 2.05% Core PCE: 1.44% CPI: 2.68%January 2000 PCE: 2.19% Core PCE: 1.54% CPI: 2.74%February 2000 PCE: 2.57% Core PCE: 1.72% CPI: 3.22%March 2000 PCE: 2.93% Core PCE: 1.90% CPI: 3.76%April 2000 PCE: 2.35% Core PCE: 1.71% CPI: 3.07%May 2000 PCE: 2.37% Core PCE: 1.72% CPI: 3.19%June 2000 PCE: 2.68% Core PCE: 1.74% CPI: 3.73%July 2000 PCE: 2.67% Core PCE: 1.79% CPI: 3.66%August 2000 PCE: 2.48% Core PCE: 1.87% CPI: 3.41%September 2000 PCE: 2.55% Core PCE: 1.85% CPI: 3.45%October 2000 PCE: 2.51% Core PCE: 1.82% CPI: 3.45%November 2000 PCE: 2.57% Core PCE: 1.90% CPI: 3.45%December 2000 PCE: 2.48% Core PCE: 1.87% CPI: 3.39%January 2001 PCE: 2.70% Core PCE: 2.01% CPI: 3.73%February 2001 PCE: 2.54% Core PCE: 2.04% CPI: 3.53%March 2001 PCE: 2.11% Core PCE: 1.93% CPI: 2.92%April 2001 PCE: 2.37% Core PCE: 2.03% CPI: 3.27%May 2001 PCE: 2.56% Core PCE: 1.94% CPI: 3.62%June 2001 PCE: 2.39% Core PCE: 2.09% CPI: 3.25%July 2001 PCE: 2.10% Core PCE: 2.12% CPI: 2.72%August 2001 PCE: 2.10% Core PCE: 2.04% CPI: 2.72%September 2001 PCE: 1.31% Core PCE: 1.22% CPI: 2.65%October 2001 PCE: 1.53% Core PCE: 1.79% CPI: 2.13%November 2001 PCE: 1.32% Core PCE: 1.81% CPI: 1.90%December 2001 PCE: 1.06% Core PCE: 1.74% CPI: 1.55%January 2002 PCE: 0.67% Core PCE: 1.42% CPI: 1.14%February 2002 PCE: 0.68% Core PCE: 1.43% CPI: 1.14%March 2002 PCE: 0.94% Core PCE: 1.45% CPI: 1.48%April 2002 PCE: 1.19% Core PCE: 1.57% CPI: 1.64%May 2002 PCE: 0.99% Core PCE: 1.66% CPI: 1.18%June 2002 PCE: 0.94% Core PCE: 1.59% CPI: 1.07%July 2002 PCE: 1.19% Core PCE: 1.54% CPI: 1.46%August 2002 PCE: 1.40% Core PCE: 1.69% CPI: 1.80%September 2002 PCE: 1.93% Core PCE: 2.44% CPI: 1.51%October 2002 PCE: 1.76% Core PCE: 1.81% CPI: 2.03%November 2002 PCE: 1.93% Core PCE: 1.70% CPI: 2.20%December 2002 PCE: 2.13% Core PCE: 1.77% CPI: 2.38%January 2003 PCE: 2.35% Core PCE: 1.78% CPI: 2.60%February 2003 PCE: 2.60% Core PCE: 1.73% CPI: 2.98%March 2003 PCE: 2.59% Core PCE: 1.77% CPI: 3.02%April 2003 PCE: 1.99% Core PCE: 1.60% CPI: 2.22%May 2003 PCE: 1.80% Core PCE: 1.63% CPI: 2.06%June 2003 PCE: 1.79% Core PCE: 1.53% CPI: 2.11%July 2003 PCE: 1.86% Core PCE: 1.57% CPI: 2.11%August 2003 PCE: 2.01% Core PCE: 1.49% CPI: 2.16%September 2003 PCE: 2.14% Core PCE: 1.46% CPI: 2.32%October 2003 PCE: 1.97% Core PCE: 1.57% CPI: 2.04%November 2003 PCE: 2.00% Core PCE: 1.61% CPI: 1.77%December 2003 PCE: 2.12% Core PCE: 1.64% CPI: 1.88%January 2004 PCE: 2.21% Core PCE: 1.83% CPI: 1.93%February 2004 PCE: 2.00% Core PCE: 1.85% CPI: 1.69%March 2004 PCE: 1.90% Core PCE: 1.86% CPI: 1.74%April 2004 PCE: 2.26% Core PCE: 2.01% CPI: 2.29%May 2004 PCE: 2.71% Core PCE: 2.01% CPI: 3.05%June 2004 PCE: 2.89% Core PCE: 2.11% CPI: 3.27%July 2004 PCE: 2.68% Core PCE: 1.98% CPI: 2.99%August 2004 PCE: 2.39% Core PCE: 1.90% CPI: 2.65%September 2004 PCE: 2.27% Core PCE: 1.95% CPI: 2.54%October 2004 PCE: 2.70% Core PCE: 1.98% CPI: 3.19%November 2004 PCE: 2.97% Core PCE: 2.06% CPI: 3.52%December 2004 PCE: 2.79% Core PCE: 2.07% CPI: 3.26%January 2005 PCE: 2.53% Core PCE: 2.17% CPI: 2.97%February 2005 PCE: 2.60% Core PCE: 2.18% CPI: 3.01%March 2005 PCE: 2.75% Core PCE: 2.26% CPI: 3.15%April 2005 PCE: 2.84% Core PCE: 2.11% CPI: 3.51%May 2005 PCE: 2.57% Core PCE: 2.18% CPI: 2.80%June 2005 PCE: 2.34% Core PCE: 2.09% CPI: 2.53%July 2005 PCE: 2.68% Core PCE: 2.11% CPI: 3.17%August 2005 PCE: 3.04% Core PCE: 2.16% CPI: 3.64%September 2005 PCE: 3.83% Core PCE: 2.19% CPI: 4.69%October 2005 PCE: 3.55% Core PCE: 2.27% CPI: 4.35%November 2005 PCE: 2.94% Core PCE: 2.31% CPI: 3.46%December 2005 PCE: 2.88% Core PCE: 2.28% CPI: 3.42%January 2006 PCE: 3.25% Core PCE: 2.14% CPI: 3.99%February 2006 PCE: 3.02% Core PCE: 2.14% CPI: 3.60%March 2006 PCE: 2.91% Core PCE: 2.17% CPI: 3.36%April 2006 PCE: 3.10% Core PCE: 2.36% CPI: 3.55%May 2006 PCE: 3.32% Core PCE: 2.41% CPI: 4.17%June 2006 PCE: 3.51% Core PCE: 2.60% CPI: 4.32%July 2006 PCE: 3.43% Core PCE: 2.55% CPI: 4.15%August 2006 PCE: 3.34% Core PCE: 2.67% CPI: 3.82%September 2006 PCE: 2.08% Core PCE: 2.61% CPI: 2.06%October 2006 PCE: 1.68% Core PCE: 2.50% CPI: 1.31%November 2006 PCE: 1.92% Core PCE: 2.28% CPI: 1.97%December 2006 PCE: 2.29% Core PCE: 2.32% CPI: 2.54%January 2007 PCE: 2.13% Core PCE: 2.50% CPI: 2.08%February 2007 PCE: 2.39% Core PCE: 2.56% CPI: 2.42%March 2007 PCE: 2.56% Core PCE: 2.38% CPI: 2.78%April 2007 PCE: 2.33% Core PCE: 2.21% CPI: 2.57%May 2007 PCE: 2.35% Core PCE: 2.08% CPI: 2.69%June 2007 PCE: 2.32% Core PCE: 1.99% CPI: 2.69%July 2007 PCE: 2.12% Core PCE: 2.04% CPI: 2.36%August 2007 PCE: 1.87% Core PCE: 1.98% CPI: 1.97%September 2007 PCE: 2.53% Core PCE: 2.10% CPI: 2.76%October 2007 PCE: 3.09% Core PCE: 2.18% CPI: 3.54%November 2007 PCE: 3.60% Core PCE: 2.34% CPI: 4.31%December 2007 PCE: 3.47% Core PCE: 2.40% CPI: 4.08%January 2008 PCE: 3.39% Core PCE: 2.19% CPI: 4.28%February 2008 PCE: 3.27% Core PCE: 2.07% CPI: 4.03%March 2008 PCE: 3.19% Core PCE: 2.17% CPI: 3.98%April 2008 PCE: 3.14% Core PCE: 2.08% CPI: 3.94%May 2008 PCE: 3.28% Core PCE: 2.15% CPI: 4.18%June 2008 PCE: 3.81% Core PCE: 2.21% CPI: 5.02%July 2008 PCE: 4.14% Core PCE: 2.24% CPI: 5.60%August 2008 PCE: 3.98% Core PCE: 2.22% CPI: 5.37%September 2008 PCE: 3.67% Core PCE: 2.04% CPI: 4.94%October 2008 PCE: 2.67% Core PCE: 1.63% CPI: 3.66%November 2008 PCE: 0.93% Core PCE: 1.39% CPI: 1.07%December 2008 PCE: 0.13% Core PCE: 1.14% CPI: 0.09%January 2009 PCE: −0.11% Core PCE: 0.91% CPI: 0.03%February 2009 PCE: −0.13% Core PCE: 0.89% CPI: 0.24%March 2009 PCE: −0.53% Core PCE: 0.76% CPI: −0.38%April 2009 PCE: −0.57% Core PCE: 0.93% CPI: −0.74%May 2009 PCE: −0.89% Core PCE: 0.82% CPI: −1.28%June 2009 PCE: −1.02% Core PCE: 0.72% CPI: −1.43%July 2009 PCE: −1.47% Core PCE: 0.63% CPI: −2.10%August 2009 PCE: −1.10% Core PCE: 0.65% CPI: −1.48%September 2009 PCE: −1.02% Core PCE: 0.73% CPI: −1.29%October 2009 PCE: 0.01% Core PCE: 1.24% CPI: −0.18%November 2009 PCE: 1.46% Core PCE: 1.37% CPI: 1.84%December 2009 PCE: 2.09% Core PCE: 1.51% CPI: 2.72%January 2010 PCE: 2.30% Core PCE: 1.69% CPI: 2.63%February 2010 PCE: 2.12% Core PCE: 1.70% CPI: 2.14%March 2010 PCE: 2.37% Core PCE: 1.78% CPI: 2.31%April 2010 PCE: 2.28% Core PCE: 1.60% CPI: 2.24%May 2010 PCE: 2.21% Core PCE: 1.64% CPI: 2.02%June 2010 PCE: 1.56% Core PCE: 1.56% CPI: 1.05%July 2010 PCE: 1.64% Core PCE: 1.47% CPI: 1.24%August 2010 PCE: 1.48% Core PCE: 1.42% CPI: 1.15%September 2010 PCE: 1.42% Core PCE: 1.30% CPI: 1.14%October 2010 PCE: 1.36% Core PCE: 1.08% CPI: 1.17%November 2010 PCE: 1.31% Core PCE: 1.12% CPI: 1.14%December 2010 PCE: 1.48% Core PCE: 1.06% CPI: 1.50%January 2011 PCE: 1.56% Core PCE: 1.12% CPI: 1.63%February 2011 PCE: 1.85% Core PCE: 1.21% CPI: 2.11%March 2011 PCE: 2.11% Core PCE: 1.21% CPI: 2.68%April 2011 PCE: 2.49% Core PCE: 1.39% CPI: 3.16%May 2011 PCE: 2.77% Core PCE: 1.52% CPI: 3.57%June 2011 PCE: 2.79% Core PCE: 1.59% CPI: 3.56%July 2011 PCE: 2.88% Core PCE: 1.73% CPI: 3.63%August 2011 PCE: 2.98% Core PCE: 1.84% CPI: 3.77%September 2011 PCE: 3.02% Core PCE: 1.85% CPI: 3.87%October 2011 PCE: 2.69% Core PCE: 1.74% CPI: 3.53%November 2011 PCE: 2.70% Core PCE: 1.83% CPI: 3.39%December 2011 PCE: 2.53% Core PCE: 1.97% CPI: 2.96%January 2012 PCE: 2.57% Core PCE: 2.06% CPI: 2.93%February 2012 PCE: 2.51% Core PCE: 2.03% CPI: 2.87%March 2012 PCE: 2.30% Core PCE: 2.04% CPI: 2.65%April 2012 PCE: 2.00% Core PCE: 1.97% CPI: 2.30%May 2012 PCE: 1.58% Core PCE: 1.83% CPI: 1.70%June 2012 PCE: 1.55% Core PCE: 1.82% CPI: 1.66%July 2012 PCE: 1.41% Core PCE: 1.77% CPI: 1.41%August 2012 PCE: 1.51% Core PCE: 1.64% CPI: 1.69%September 2012 PCE: 1.68% Core PCE: 1.69% CPI: 1.99%October 2012 PCE: 1.98% Core PCE: 1.89% CPI: 2.16%November 2012 PCE: 1.70% Core PCE: 1.78% CPI: 1.76%December 2012 PCE: 1.62% Core PCE: 1.69% CPI: 1.74%January 2013 PCE: 1.47% Core PCE: 1.59% CPI: 1.59%February 2013 PCE: 1.60% Core PCE: 1.56% CPI: 1.98%March 2013 PCE: 1.28% Core PCE: 1.48% CPI: 1.47%April 2013 PCE: 1.04% Core PCE: 1.38% CPI: 1.06%May 2013 PCE: 1.23% Core PCE: 1.39% CPI: 1.36%June 2013 PCE: 1.51% Core PCE: 1.46% CPI: 1.75%July 2013 PCE: 1.60% Core PCE: 1.49% CPI: 1.96%August 2013 PCE: 1.40% Core PCE: 1.53% CPI: 1.52%September 2013 PCE: 1.14% Core PCE: 1.53% CPI: 1.18%October 2013 PCE: 0.98% Core PCE: 1.45% CPI: 0.96%November 2013 PCE: 1.20% Core PCE: 1.51% CPI: 1.24%December 2013 PCE: 1.39% Core PCE: 1.55% CPI: 1.50%January 2014 PCE: 1.41% Core PCE: 1.45% CPI: 1.58%February 2014 PCE: 1.09% Core PCE: 1.39% CPI: 1.13%March 2014 PCE: 1.39% Core PCE: 1.45% CPI: 1.51%April 2014 PCE: 1.67% Core PCE: 1.57% CPI: 1.95%May 2014 PCE: 1.77% Core PCE: 1.62% CPI: 2.13%June 2014 PCE: 1.65% Core PCE: 1.56% CPI: 2.07%July 2014 PCE: 1.67% Core PCE: 1.61% CPI: 1.99%August 2014 PCE: 1.51% Core PCE: 1.54% CPI: 1.70%September 2014 PCE: 1.50% Core PCE: 1.55% CPI: 1.66%October 2014 PCE: 1.33% Core PCE: 1.47% CPI: 1.66%November 2014 PCE: 1.09% Core PCE: 1.39% CPI: 1.32%December 2014 PCE: 0.73% Core PCE: 1.36% CPI: 0.76%January 2015 PCE: 0.04% Core PCE: 1.21% CPI: −0.09%February 2015 PCE: 0.17% Core PCE: 1.28% CPI: −0.03%March 2015 PCE: 0.20% Core PCE: 1.28% CPI: −0.07%April 2015 PCE: 0.11% Core PCE: 1.29% CPI: −0.20%May 2015 PCE: 0.19% Core PCE: 1.25% CPI: −0.04%June 2015 PCE: 0.27% Core PCE: 1.25% CPI: 0.12%July 2015 PCE: 0.22% Core PCE: 1.18% CPI: 0.17%August 2015 PCE: 0.24% Core PCE: 1.22% CPI: 0.20%September 2015 PCE: 0.07% Core PCE: 1.23% CPI: −0.04%October 2015 PCE: 0.10% Core PCE: 1.18% CPI: 0.17%November 2015 PCE: 0.25% Core PCE: 1.20% CPI: 0.50%December 2015 PCE: 0.35% Core PCE: 1.19% CPI: 0.73%January 2016 PCE: 0.87% Core PCE: 1.41% CPI: 1.37%February 2016 PCE: 0.64% Core PCE: 1.47% CPI: 1.02%March 2016 PCE: 0.69% Core PCE: 1.46% CPI: 0.85%April 2016 PCE: 0.93% Core PCE: 1.52% CPI: 1.13%May 2016 PCE: 0.85% Core PCE: 1.57% CPI: 1.02%June 2016 PCE: 0.83% Core PCE: 1.55% CPI: 1.00%July 2016 PCE: 0.76% Core PCE: 1.60% CPI: 0.83%August 2016 PCE: 0.89% Core PCE: 1.70% CPI: 1.06%September 2016 PCE: 1.22% Core PCE: 1.69% CPI: 1.46%October 2016 PCE: 1.43% Core PCE: 1.78% CPI: 1.64%November 2016 PCE: 1.40% Core PCE: 1.72% CPI: 1.69%December 2016 PCE: 1.66% Core PCE: 1.77% CPI: 2.07%January 2017 PCE: 2.01% Core PCE: 1.86% CPI: 2.50%February 2017 PCE: 2.20% Core PCE: 1.87% CPI: 2.74%March 2017 PCE: 1.91% Core PCE: 1.68% CPI: 2.38%April 2017 PCE: 1.77% Core PCE: 1.64% CPI: 2.20%May 2017 PCE: 1.56% Core PCE: 1.55% CPI: 1.87%June 2017 PCE: 1.47% Core PCE: 1.58% CPI: 1.63%July 2017 PCE: 1.49% Core PCE: 1.50% CPI: 1.73%August 2017 PCE: 1.57% Core PCE: 1.43% CPI: 1.94%September 2017 PCE: 1.76% Core PCE: 1.42% CPI: 2.23%October 2017 PCE: 1.68% Core PCE: 1.54% CPI: 2.04%November 2017 PCE: 1.79% Core PCE: 1.55% CPI: 2.20%December 2017 PCE: 1.77% Core PCE: 1.58% CPI: 2.11%January 2018 PCE: 1.76% Core PCE: 1.63% CPI: 2.07%February 2018 PCE: 1.84% Core PCE: 1.64% CPI: 2.21%March 2018 PCE: 2.00% Core PCE: 1.91% CPI: 2.36%April 2018 PCE: 2.05% Core PCE: 1.88% CPI: 2.46%May 2018 PCE: 2.27% Core PCE: 1.98% CPI: 2.80%June 2018 PCE: 2.27% Core PCE: 1.94% CPI: 2.87%July 2018 PCE: 2.34% Core PCE: 2.00% CPI: 2.95%August 2018 PCE: 2.18% Core PCE: 1.90% CPI: 2.70%September 2018 PCE: 2.01% Core PCE: 1.96% CPI: 2.28%October 2018 PCE: 2.05% Core PCE: 1.87% CPI: 2.52%November 2018 PCE: 1.94% Core PCE: 2.01% CPI: 2.18%December 2018 PCE: 1.86% Core PCE: 2.04% CPI: 1.91%January 2019 PCE: 1.43% Core PCE: 1.84% CPI: 1.55%February 2019 PCE: 1.40% Core PCE: 1.74% CPI: 1.52%March 2019 PCE: 1.52% Core PCE: 1.62% CPI: 1.86%April 2019 PCE: 1.57% Core PCE: 1.64% CPI: 2.00%May 2019 PCE: 1.47% Core PCE: 1.56% CPI: 1.79%June 2019 PCE: 1.43% Core PCE: 1.66% CPI: 1.65%July 2019 PCE: 1.45% Core PCE: 1.64% CPI: 1.81%August 2019 PCE: 1.43% Core PCE: 1.75% CPI: 1.75%September 2019 PCE: 1.28% Core PCE: 1.63% CPI: 1.71%October 2019 PCE: 1.29% Core PCE: 1.62% CPI: 1.76%November 2019 PCE: 1.36% Core PCE: 1.50% CPI: 2.05%December 2019 PCE: 1.56% Core PCE: 1.54% CPI: 2.29%January 2020 PCE: 1.79% Core PCE: 1.59% CPI: 2.49%February 2020 PCE: 1.69% Core PCE: 1.70% CPI: 2.33%March 2020 PCE: 1.17% Core PCE: 1.53% CPI: 1.54%April 2020 PCE: 0.46% Core PCE: 1.00% CPI: 0.33%May 2020 PCE: 0.49% Core PCE: 1.00% CPI: 0.12%June 2020 PCE: 0.76% Core PCE: 0.97% CPI: 0.65%July 2020 PCE: 0.92% Core PCE: 1.21% CPI: 0.99%August 2020 PCE: 1.16% Core PCE: 1.39% CPI: 1.31%September 2020 PCE: 1.28% Core PCE: 1.48% CPI: 1.37%October 2020 PCE: 1.19% Core PCE: 1.42% CPI: 1.18%November 2020 PCE: 1.19% Core PCE: 1.45% CPI: 1.17%December 2020 PCE: 1.33% Core PCE: 1.51% CPI: 1.36%January 2021 PCE: 1.51% Core PCE: 1.59% CPI: 1.40%February 2021 PCE: 1.79% Core PCE: 1.65% CPI: 1.68%March 2021 PCE: 2.64% Core PCE: 2.13% CPI: 2.62%April 2021 PCE: 3.58% Core PCE: 3.07% CPI: 4.16%May 2021 PCE: 3.97% Core PCE: 3.44% CPI: 4.99%June 2021 PCE: 4.22% Core PCE: 3.78% CPI: 5.39%July 2021 PCE: 4.38% Core PCE: 3.84% CPI: 5.37%August 2021 PCE: 4.51% Core PCE: 3.89% CPI: 5.25%September 2021 PCE: 4.66% Core PCE: 3.93% CPI: 5.39%October 2021 PCE: 5.28% Core PCE: 4.37% CPI: 6.22%November 2021 PCE: 5.87% Core PCE: 4.80% CPI: 6.81%December 2021 PCE: 6.04% Core PCE: 5.08% CPI: 7.04%January 2022 PCE: 6.23% Core PCE: 5.33% CPI: 7.48%February 2022 PCE: 6.51% Core PCE: 5.57% CPI: 7.87%March 2022 PCE: 6.92% Core PCE: 5.56% CPI: 8.54%April 2022 PCE: 6.63% Core PCE: 5.29% CPI: 8.26%May 2022 PCE: 6.78% Core PCE: 5.17% CPI: 8.58%June 2022 PCE: 7.22% Core PCE: 5.30% CPI: 9.06%July 2022 PCE: 6.86% Core PCE: 5.22% CPI: 8.52%August 2022 PCE: 6.68% Core PCE: 5.40% CPI: 8.26%September 2022 PCE: 6.69% Core PCE: 5.64% CPI: 8.20%October 2022 PCE: 6.51% Core PCE: 5.51% CPI: 7.75%November 2022 PCE: 6.09% Core PCE: 5.29% CPI: 7.11%December 2022 PCE: 5.61% Core PCE: 5.07% CPI: 6.45%January 2023 PCE: 5.56% Core PCE: 5.00% CPI: 6.41%February 2023 PCE: 5.20% Core PCE: 4.86% CPI: 6.04%March 2023 PCE: 4.49% Core PCE: 4.86% CPI: 4.98%April 2023 PCE: 4.53% Core PCE: 4.85% CPI: 4.93%May 2023 PCE: 4.10% Core PCE: 4.83% CPI: 4.05%June 2023 PCE: 3.35% Core PCE: 4.44% CPI: 2.97%July 2023 PCE: 3.36% Core PCE: 4.24% CPI: 3.18%August 2023 PCE: 3.44% Core PCE: 3.83% CPI: 3.67%September 2023 PCE: 3.49% Core PCE: 3.74% CPI: 3.70%October 2023 PCE: 3.10% Core PCE: 3.56% CPI: 3.24%November 2023 PCE: 2.89% Core PCE: 3.44% CPI: 3.14%December 2023 PCE: 2.86% Core PCE: 3.23% CPI: 3.35%January 2024 PCE: 2.75% Core PCE: 3.22% CPI: 3.09%February 2024 PCE: 2.81% Core PCE: 3.18% CPI: 3.15%March 2024 PCE: 2.95% Core PCE: 3.15% CPI: 3.48%April 2024 PCE: 2.84% Core PCE: 3.02% CPI: 3.36%May 2024 PCE: 2.70% Core PCE: 2.81% CPI: 3.27%June 2024 PCE: 2.57% Core PCE: 2.78% CPI: 2.97%July 2024 PCE: 2.60% Core PCE: 2.81% CPI: 2.89%August 2024 PCE: 2.44% Core PCE: 2.90% CPI: 2.53%September 2024 PCE: 2.26% Core PCE: 2.84% CPI: 2.44%October 2024 PCE: 2.41% Core PCE: 2.90% CPI: 2.60%November 2024 PCE: 2.49% Core PCE: 2.87% CPI: 2.75%December 2024 PCE: 2.65% Core PCE: 2.90% CPI: 2.89%January 2025 PCE: 2.63% Core PCE: 2.81% CPI: 3.00%February 2025 PCE: 2.57% Core PCE: 2.82% CPI: 2.82%March 2025 PCE: 2.26% Core PCE: 2.56% CPI: 2.39%April 2025 PCE: 2.33% Core PCE: 2.68% CPI: 2.31%May 2025 PCE: 2.46% Core PCE: 2.79% CPI: 2.35%June 2025 PCE: 2.61% Core PCE: 2.83% CPI: 2.67%July 2025 PCE: 2.59% Core PCE: 2.84% CPI: 2.70%August 2025 PCE: 2.69% Core PCE: 2.85% CPI: 2.92%September 2025 PCE: 2.78% Core PCE: 2.82% CPI: 3.01%October 2025 PCE: 2.66% Core PCE: 2.70% CPI: not publishedNovember 2025 PCE: 2.71% Core PCE: 2.72% CPI: 2.74%December 2025 PCE: 2.78% Core PCE: 2.87% CPI: 2.68%January 2026 PCE: 2.73% Core PCE: 2.94% CPI: 2.39%February 2026 PCE: 2.80% Core PCE: 2.96% CPI: 2.41%March 2026 PCE: 3.37% Core PCE: 3.11% CPI: 3.26%April 2026 PCE: 3.57% Core PCE: 3.08% CPI: 3.81%May 2026 PCE: 3.82% Core PCE: 3.16% CPI: 4.25%June 2026 PCE: 3.45% Core PCE: 3.04% CPI: 3.53%July 2026 PCE: 3.37% Core PCE: 3.00% CPI: 3.36%August 2026 PCE: 3.44% Core PCE: 3.03% CPI: 3.40%September 2026 PCE: 3.65% Core PCE: 3.12% CPI: 3.74%

Research that uses this series

  • US inflation driversPolicy stance: the real policy rate, Taylor-rule benchmarks, Treasury yields, breakeven inflation and the term premium from its own approved snapshot.

Open the full topic: US Rates, Growth and Inflation →