PCE Prices Rise 0.5% in September, Core Holds at 0.3%
The PCE price index rose 0.5% from August, while the index excluding food and energy rose 0.3%.
The seasonally adjusted Personal Consumption Expenditures price index rose 0.5 percent from the preceding month in September 2026, after a 0.3 percent increase in August. Excluding food and energy, the PCE price index increased 0.3 percent, matching the August core advance.
From the same month one year ago, the PCE price index increased 3.6 percent. Excluding food and energy, the index increased 3.1 percent from one year ago.
The BEA’s seasonally adjusted PCE price index stood at 132.26 on a 2017=100 basis.
Current-dollar personal consumption expenditures increased $113.1 billion (0.5 percent) in September, after a 0.9 percent monthly increase in August. The $113.1 billion increase reflected $35.1 billion in spending on goods and $78.1 billion in spending on services.
Real PCE increased $2.6 billion, less than 0.1 percent at a monthly rate, after a 0.5 percent increase in August.
Personal income increased $54.5 billion (0.2 percent at a monthly rate), after a 0.3 percent increase in August. Disposable personal income increased $52.7 billion (0.2 percent). Real DPI declined 0.3 percent from the preceding month, after no change in August.
The income increase primarily reflected increases in compensation and government social benefits. Within compensation, the increase was led by private wages and salaries based on BLS Current Employment Statistics. The increase in government social benefits was led by Medicare.
Personal saving was $911.1 billion, and the personal saving rate was 3.8 percent of DPI.
Estimates have been updated for July and August, reflecting revised BLS CES data. The revision to personal interest income was led by monetary interest, based on newly available data from the U.S. Bureau of the Fiscal Service.
See [the BEA release](https://www.bea.gov/news/2026/personal-income-and-outlays-september-2026) for the full September 2026 personal income and outlays estimates.
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