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Keywords:Personal Consumption Expenditures Price Index 

Journal Article
Predicting consumption: a lesson in real-time data

National Economic Trends , Issue Nov

Working Paper
Trimmed mean PCE inflation

Research over the past decade has led to improved measures of core inflation in the Consumer Price Index, or CPI. This paper discusses the application of some of the insights and techniques of that line of research to the Federal Reserve Bard of Governors? preferred inflation gauge, the price index for Personal Consumption Expenditures (PCE). The result is a new measure of core PCE inflation?the trimmed mean PCE?and a somewhat different characterization of the economy?s recent inflation experience. ; Compared to the story told by the usual ?excluding food and energy? measure, the trimmed mean ...
Working Papers , Paper 0506

Journal Article
Through a glass, darkly: how data revisions complicate monetary policy

Economic Letter , Volume 1

Journal Article
Inflation measurement gives us food for thought

Global food prices are soaring. Since February 2009, the United Nations Food and Agriculture Organization world food price index has risen roughly 67 percent, surpassing the previous peak in June 2008 (Chart 1). The last food price surge, from early 2007 to mid-2008, prompted riots in many countries; the latest rise has also fueled riots and may have been a factor in political unrest sweeping through North Africa and the Middle East.
Economic Letter , Volume 6

Newsletter
Trends in consumer sentiment and spending

In 2008, personal consumption expenditures represented 70% of gross domestic product, or total spending on final goods and services, according to U.S. Bureau of Economic Analysis data. This article analyzes consumer sentiment and spending data to uncover differences across income and education level groups.
Chicago Fed Letter , Issue Apr

Journal Article
A personal consumption tax: can it break the capital formation deadlock?

Business Review , Issue Jan/Feb , Pages 3-9

Speech
Regional and national economic conditions

Remarks before the Morris County Chamber of Commerce, Florham Park, New Jersey.
Speech , Paper 87

Journal Article
A comparison of the CPI and the PCE price index

In the United States, there are two broad indexes of consumer prices: the consumer price index, or CPI, and the chain price index for personal consumption expenditures, or PCEPI. Because the indexes are similar in many respects, the inflation rates measured with them often move in parallel. There are, however, some important differences, which, at times, can lead to large gaps between CPI and PCEPI inflation rates. In 1998, for example, the CPI rose 1.5 percent, while the PCEPI increased just 0.7 percent. The discrepancy was even larger excluding food and energy prices: the core CPI grew 2.4 ...
Economic Review , Volume 84 , Issue Q III , Pages 15-29

Journal Article
The breadth of disinflation

In recent months, inflation as measured by the personal consumption expenditures price index has been trending lower. This slowdown, known as disinflation, has raised concerns that inflation might actually drop below zero and enter a period of deflation. An examination of the distribution of inflation rates across the range of goods and services that compose the index suggests that downward pressures on inflation are relatively high by historical standards.
FRBSF Economic Letter

Journal Article
A fitter, trimmer core inflation measure

Southwest Economy , Issue May , Pages 1, 4-9

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