+3.70
percent
PCE price index
inflation
Jul 2025 to Jul
2026
+0.01
percent
Change in real
PCE
Jun 2026 to Jul
2026
+0.43
percent
Change in personal
income
Jun 2026 to Jul
2026
Expenditures and inflation
From June 2026 to July 2026:
- Headline PCE price index inflation was 0.16
percent.
- Core PCE price index inflation was 0.25 percent.
This excludes food and energy prices, which tend to be more
volatile.
- All services inflation was 0.27 percent.
- All goods inflation was -0.11 percent.
- Durable goods inflation was 0.37 percent.
- Nondurable goods inflation was -0.37 percent.
- Real personal consumption expenditures (PCE) increased by
0.01 percent, or $1.26 billion.
- Real PCE on all services increased by 0.29 percent,
or $32.04 billion.
- Real PCE on all goods decreased by 0.61 percent, or
$35.48 billion.
- Real PCE on durable goods decreased by 1.39
percent, or $30.48 billion.
- Real PCE on nondurable goods decreased by 0.20
percent, or $7.13 billion.
- The nominal personal savings rate increased by 0.4
percentage points to 3 percent.
From July 2025 to July 2026:
- Headline PCE price index inflation was 3.70
percent, which is higher than the Federal Reserve’s target of 2
percent.
- Core PCE price index inflation was 3.34
percent.