Core PCE Price Index
Personal Consumption Expenditures excluding food & energy (index, monthly)
| Property | Value |
|---|---|
| Category | macro |
| Unit | Dimensionless |
| Resolution | 1d |
| Assets | MACRO |
| Tier | Basic |
| API Endpoint | GET /v1/macro/inflation |
| Field | core_pce |
Overview
Personal Consumption Expenditures excluding food and energy (FRED series PCEPILFE), the Federal Reserve's preferred inflation gauge. Monthly frequency. Core PCE is the official benchmark for the Fed's 2% inflation target because it strips out volatile food and energy components and uses a chained-weight methodology that better reflects substitution behavior.
Interpretation
- Core PCE running well above 2% YoY: Fed bias toward tighter policy — typically a headwind for BTC.
- Core PCE near or below 2%: Fed has more room to ease, historically a tailwind for risk assets.
- Month-over-month annualized prints often move markets more than the headline YoY rate.
Use Cases
- Use as the primary input for predicting Fed policy decisions in BTC macro overlays.
- Compare against
macro_cpito spot divergences in inflation measures. - Combine with
macro_unemployment_rateto model the Fed's dual-mandate trade-off.
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/macro/inflation?start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- CPI (All Urban) — Consumer Price Index for all urban consumers (index, monthly)
- Real 10-Year Yield — 10Y Treasury yield minus 12-month CPI YoY (%, daily)
- 10-Year Treasury Yield — US 10-year Treasury constant maturity yield (%, daily)
- U Michigan Consumer Sentiment — University of Michigan Consumer Sentiment Index (monthly)