{"id":11561,"date":"2024-10-04T15:20:27","date_gmt":"2024-10-04T15:20:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11561"},"modified":"2024-10-04T15:20:27","modified_gmt":"2024-10-04T15:20:27","slug":"the-pce-price-level-measures-in-economics","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11561","title":{"rendered":"The PCE: Price Level Measures in Economics"},"content":{"rendered":"

There are two common measures of price level (P): The GDP Deflator<\/strong> and the Consumer Price Index\u00a0(CPI)<\/strong>.<\/p>\n

However, the Federal Reserve Bank looks at the Personal Consumption Expenditure Price Index (PCE) <\/strong>as their preferred index. The PCE is complied and released monthly in the Personal Income and Outlays report and attempts to capture price level changes (essentially inflation or deflation) across a wide bucket of consumer expenses.<\/p>\n

It\u2019s a chain-type index, which means that it adjusts for changes in the composition of consumer spending over time to better reflect how consumers are actually feeling. It\u2019s published by the Bureau of Economic Analysis, or BEA (which is part of the department of commerce).<\/p>\n

Here\u2019s the current PCE as of October\u00a02024:<\/p>\n

You can see the current PCE for yourself here: https:\/\/www.bea.gov\/data\/personal-consumption-expenditures-price-index<\/a><\/p>\n

Hope you found that helpful! Here\u2019s another article detailing nominal and real GDP (here<\/a>), and one more about how to calculate inflation using multiple GDP deflators (here<\/a>).\u00a0Also:<\/p>\n

Read about the Income Approach to GDP\u00a0here<\/a>.Read more economics stories\u00a0here<\/a>.To learn more about the oil market, consider reading about PADD Districts<\/a>, the Why WTI and Brent are Crude Oils<\/a>, and Why There are Price Differences Among Crude Oils<\/a>, and my Oil & Gas Terms\u00a0Guide<\/a>.<\/p>\n

The PCE: Price Level Measures in Economics<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":"

There are two common measures of price level (P): The GDP Deflator and the Consumer Price Index\u00a0(CPI). However, the Federal Reserve Bank looks at the Personal Consumption Expenditure Price Index (PCE) as their preferred index. The PCE is complied and released monthly in the Personal Income and Outlays report and attempts to capture price level […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-11561","post","type-post","status-publish","format-standard","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11561"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11561"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11561\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}