Personal Consumption Expenditures price index (PCE)
The inflation gauge the Federal Reserve prefers; its 2% target is defined on it.
- Published by
- US Bureau of Economic Analysis (BEA) — the Personal Income and Outlays report
- Frequency
- Monthly
- When
- Usually near the end of the month, for the previous month. Dates are on the BEA schedule.
- Time
- 8:30 a.m. New York time: 15:30 in Mecca/Riyadh while the US is on daylight time (March to November), 16:30 otherwise.
What is PCE?
It measures prices across everything US consumers spend on or is spent on their behalf, with a headline and a core (ex food and energy) figure, alongside personal income and spending.
Why does it move markets?
Because the Fed defines its target on this measure, core PCE feeds straight into rate expectations. It comes out after CPI, though, so markets have partly anticipated it and the reaction is often smaller.
What traders watch
- Core PCE month-on-month and year-on-year against the forecast.
- Personal spending, as a read on demand.
Most affected instruments
USDXAUUSDEURUSD
Official schedule
Exact release dates are published in advance by the issuer:
BEA release scheduleNext release in the economic calendar
From TradingView, in your device's time zone. Look for “PCE” in the list.
Before you trade the release
- Spreads widen sharply in the minutes around the release, and orders can fill at a worse price than asked (slippage).
- Some brokers raise margin or restrict orders around major news. Read your broker's terms beforehand.
- The first move can reverse within minutes. Set your position size and stop before the number comes out, not after.
Related indicators
- CPIUS Consumer Price Index (CPI)
- FOMCUS interest-rate decision (FOMC)
- GDPUS Gross Domestic Product (GDP)
Educational explanation, not investment advice. Market reactions to any release are not guaranteed and can run against the usual pattern.