US PCE Inflation Rises Less Than Expected in August
The US PCE price index rose 0.3% month-over-month in August 2026, following a downwardly revised 0.1% gain in July and slightly below market expectations of 0.4%. Goods prices increased 0.3%, rebounding from a 0.1% decline in July, led by a 0.5% rise in nondurable goods, mainly due to a 4.4% jump in gasoline and other ...
The US Personal Consumption Expenditures (PCE) price index increased by 0.3% month-over-month in August 2026, slightly below market expectations of 0.4%. This came after a downward revision in July's gain to 0.1%. Goods prices rose by 0.3%, reversing a 0.1% decline seen in July, with non-durable goods leading the increase at 0.5%, primarily due to a sharp 4.4% jump in energy goods prices, including gasoline.
In contrast, durable goods inflation slowed to 0.1% from 0.4%. Services prices also rose, reaching 0.3% from 0.1%, mainly fueled by higher transportation services (1.4%) and food services and accommodations (0.5%). The core PCE price index, which excludes food and energy, grew by 0.2%, also below forecasts of 0.3%. On a year-over-year basis, headline PCE inflation remained steady at 3.4%, unchanged from the revised July figure, while core inflation stayed at 3.0%.
The PCE price index is the Federal Reserve's primary inflation gauge, and it has remained above its 2% target since 2021.
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