Core and headline PCE inflation, with goods vs services breakdown and policy-relevant momentum. Informational only – not investment advice.
Period: Core PCE, SA (YoY) · Source: Personal Income and Outlays, December 2025 · Frequency: monthly
Core PCE Inflation Edges Up in November
Core personal consumption expenditures (PCE) inflation increased to 2.79% year-over-year in November from 2.73% in October, while the headline measure rose slightly to 2.77%. The three-month annualized trend eased to 2.25%, still below the Federal Reserve's target of 2%
Downside risks include potential further weakening of the economy leading to reduced consumer spending and downward pressure on prices. Additionally, unexpected geopolitical events could disrupt supply chains and impact inflation dynamics.