PCE is an acronym for Personal Consumption Expenditures. The PCE price index is a US index a bit like the UK’s consumer prices index (CPI) – the US also has a separate consumer prices index – just to keep life confusing! The main difference is that the weights of different expenditure items in the PCE price index are rebalanced each quarter. The idea is that consumers will adjust their spending habits to reflect changing prices and so rebalancing tghe index provides a better insight into what consumers are actually consuming. Core PCE or CPCE is a variation of this index which excludes seasonally variable items such as food and energy.
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