About PCE Inflation Report
PCE — the price index inside the Bureau of Economic Analysis report on Personal Income and Outlays — is the inflation gauge the Federal Reserve actually targets. Its 2% goal is written in PCE, not CPI. The BEA publishes it at 8:30 AM Eastern, usually near the end of the month, and the countdown above tracks the next release.
Because it arrives a couple of weeks after CPI covering the same period, markets often think they already know the answer — which is exactly why surprises here hit hard. PCE weights spending differently and captures substitution, people switching to cheaper alternatives when prices rise, so it usually runs a little below CPI and can tell a different story about the direction of travel.
Core PCE, excluding food and energy, is the figure quoted in Fed statements and the one to watch. The same release also carries personal income and consumer spending, which is a read on whether households can keep the economy moving.
Upcoming dates
| 2026 | Thursday, October 29, 2026next |
| 2026 | Wednesday, November 25, 2026 |
| 2026 | Wednesday, December 23, 2026 |
FAQ
When is the next PCE report released?
PCE Inflation Report is on Thursday, October 29, 2026 at 8:30 AM EDT. That is 21 days from today. The BEA publishes Personal Income and Outlays, which contains the PCE price index, at 8:30 AM Eastern near the end of each month. Upcoming dates are listed above.
Why does the Fed prefer PCE over CPI?
The Fed's 2% inflation target is defined in PCE terms. PCE adjusts its weights as spending shifts and captures substitution between goods, which the Fed considers a truer picture of what households actually pay.
What is core PCE?
PCE excluding food and energy — the measure quoted in Federal Reserve statements and the one markets react to most.
Does PCE move markets as much as CPI?
Usually less, because CPI lands first and sets expectations. But a PCE reading that contradicts CPI is a genuine surprise and moves rates, equities and crypto accordingly.