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Source: U.S. Bureau of Economic Analysis
Release: Personal Income and Outlays
Units: Index 2017=100, Seasonally Adjusted
Frequency: Monthly
BEA Account Code: DPCERG
The Personal Consumption Expenditures Price Index is a measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services. The change in the PCE price index is known for capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior. For example, if the price of beef rises, shoppers may buy less beef and more chicken.
The PCE Price Index is produced by the Bureau of Economic Analysis (BEA), which revises previously published PCE data to reflect updated information or new methodology, providing consistency across decades of data that's valuable for researchers. They also offer the series as a Chain-Type index, as above. The PCE price index is used primarily for macroeconomic analysis and forecasting.
The PCE Price index is the Federal Reserve’s preferred measure of inflation. The PCE Price Index is similar to the Bureau of Labor Statistics' consumer price index for urban consumers. The two indexes, which have their own purposes and uses, are constructed differently, resulting in different inflation rates.
For more information on the PCE price index, see:
U.S. Bureau of Economic Analysis, Guide to the National Income and Product Accounts of the United States (NIPA)
U.S. Bureau of Economic Analysis, Personal Consumption Expenditures Price Index
U.S. Bureau of Economic Analysis, Prices & Inflation
U.S. Bureau of Labor Statistics, Differences between the Consumer Price Index and the Personal Consumption Expenditure Price Index
U.S. Bureau of Economic Analysis, Personal Consumption Expenditures: Chain-type Price Index [PCEPI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PCEPI, .
Source: Board of Governors of the Federal Reserve System (US)
Release: H.6 Money Stock Measures
Units: Billions of Dollars, Seasonally Adjusted
Frequency: Monthly
Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000) less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market funds (MMFs) less IRA and Keogh balances at MMFs.
Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000) less IRA and Keogh balances at depository institutions; and (2) balances in retail MMFs less IRA and Keogh balances at MMFs. Seasonally adjusted M2 is constructed by summing savings deposits (before May 2020), small-denomination time deposits, and retail MMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
For more information on the H.6 release changes and the regulatory amendment that led to the creation of the other liquid deposits component and its inclusion in the M1 monetary aggregate, see the H.6 announcements and Technical Q&As posted on December 17, 2020.
For questions on the data, please contact the data source. For questions on FRED functionality, please contact us here.
Board of Governors of the Federal Reserve System (US), M2 [M2SL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/M2SL, .
Source: U.S. Bureau of Economic Analysis
Release: Personal Income and Outlays
Units: Index 2017=100, Seasonally Adjusted
Frequency: Monthly
BEA Account Code: DPCCRG
The Personal Consumption Expenditures Price Index is a measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services. The change in the PCE price index is known for capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior. For example, if car prices rise, car sales may decline while bicycle sales increase.
The PCE Price Index is produced by the Bureau of Economic Analysis (BEA), which revises previously published PCE data to reflect updated information or new methodology, providing consistency across decades of data that's valuable for researchers. They also offer the series as a Chain-Type index and excluding food and energy products, as above. The PCE price index less food excluding food and energy is used primarily for macroeconomic analysis and forecasting future values of the PCE price index.
The PCE Price Index is similar to the Bureau of Labor Statistics' consumer price index for urban consumers. The two indexes, which have their own purposes and uses, are constructed differently, resulting in different inflation rates.
For more information on the PCE price index, see:
U.S. Bureau of Economic Analysis, Guide to the National Income and Product Accounts of the United States (NIPA)
U.S. Bureau of Economic Analysis, Personal Consumption Expenditures Price Index
U.S. Bureau of Economic Analysis, Prices & Inflation
U.S. Bureau of Labor Statistics, Differences between the Consumer Price Index and the Personal Consumption Expenditure Price Index
U.S. Bureau of Economic Analysis, Personal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index) [PCEPILFE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PCEPILFE, .
Personal Consumption Expenditures: Chain-type Price Index
Annual, Not Seasonally Adjusted Quarterly, Seasonally AdjustedM2
Monthly, Not Seasonally Adjusted Weekly, Not Seasonally AdjustedPersonal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index)
Percent Change from Quarter One Year Ago, Quarterly, Seasonally Adjustedmodal open, choose link customization options