Last updated: September 20, 2026. This guide is educational and is not individualized investment advice.
Quick take: The core PCE inflation report is issued within Personal Income and Outlays. The Bureau of Economic Analysis will publish Personal Income and Outlays for August 2026 at 8:30 a.m. Eastern Time on Wednesday, September 30. That release includes the PCE price index and core PCE price index. Investors often watch the report because it combines inflation, household spending, income, and saving data in one official release.
When is the next PCE inflation report?
| Release | Reference month | Scheduled time |
|---|---|---|
| Personal Income and Outlays | August 2026 | September 30, 2026, 8:30 a.m. ET |
Source: the BEA release schedule. The September 30 release also coincides with the agency’s annual update of national and regional accounts, so comparisons with previously published figures should account for possible revisions.
The latest official baseline
In the latest available report, covering July 2026, the BEA said the overall PCE price index rose 0.2% from June and 3.7% from a year earlier. The index excluding food and energy also rose 0.2% month over month and 3.3% year over year. These figures are a baseline for the next report, not a forecast for August.
| July 2026 measure | Latest official reading |
|---|---|
| Headline PCE price index, monthly | +0.2% |
| Headline PCE price index, year over year | +3.7% |
| Core PCE price index, monthly | +0.2% |
| Core PCE price index, year over year | +3.3% |
| Current-dollar PCE, monthly | +0.2% |
| Personal saving rate | 3.0% |
Why PCE and core PCE matter
The PCE price index tracks price changes in goods and services purchased by, or on behalf of, U.S. households. Core PCE excludes food and energy, categories whose prices can move sharply. The Federal Reserve uses PCE inflation in its policy framework, which is why the release can matter for interest-rate expectations, Treasury yields, and rate-sensitive shares. For context on the difference between the major inflation measures, see the Federal Reserve Bank of Atlanta’s PCE explainer.
Five lines to check at 8:30 a.m.
- Headline PCE: check the monthly and 12-month changes; one figure alone is not the full inflation picture.
- Core PCE: compare the food-and-energy-excluded reading with the headline measure without assuming it predicts the next policy decision.
- Revisions: the BEA can revise prior estimates as new source data arrive; revisions can change the starting point.
- Real consumer spending: separate inflation-adjusted spending from current-dollar spending to avoid confusing prices with volume.
- Income and saving: income, disposable income, and the saving rate add household-finance context to the inflation reading.
How investors can use the release carefully
A hotter or cooler inflation reading does not mechanically determine what stocks, bonds, or mortgages will do. Market moves also reflect expectations before the release, the details of spending and income, and other news. Readers can pair the report with our guide to why the 10-year Treasury yield matters and the Federal Reserve dot plot.
FAQ
Is PCE the same as CPI?
No. Both measure inflation, but they use different data and methods. The PCE price index is published by the BEA with Personal Income and Outlays; CPI is published by the Bureau of Labor Statistics.
What does “core PCE” exclude?
It excludes food and energy. Removing those volatile categories can make it easier to observe the broader price trend, but it does not make food and energy costs irrelevant to households.
Will the September 30 report include August inflation?
Yes. The scheduled report is the August 2026 Personal Income and Outlays release. Its published figures may later be revised.
Primary sources
- BEA: 2026 release schedule
- BEA: Personal Income and Outlays, July 2026
- BEA: PCE Price Index
- BEA: Core PCE Price Index
Release-day plan
Read the release before reacting to a social-media headline. Note the report month, compare the monthly and annual rates, check any revisions, and return to the source tables when a number appears surprising.