WHAT’S DRIVING INFLATION?

The number is only
the beginning.

See how housing, services, goods, food and energy combine to produce the inflation rate reported each month.

LATEST MONTHLY SNAPSHOT

Where inflation is coming from

Each value shows how many percentage points a category contributed to the total PCE inflation rate.

LARGEST CONTRIBUTORServices other than housing1.98 pts

54% of the headline rate came from this category.

Housing0.50percentage points

Services other than housing1.98percentage points

Core goods0.50percentage points

Food0.18percentage points

Energy0.54percentage points

RECENT DIRECTION

36 months of headline PCE

The total is the sum of contributions from the categories above. Hover or tap the category cards for exact contribution values.

Recent trend data is temporarily unavailable. The historical comparison remains available below.

3.7% latestJuly 2026

THEN VS. NOW

Inflation changes.
So do its causes.

Compare representative snapshots from the SF Fed’s historical series. A negative contribution means that category pulled the overall rate down.

THENVERSUSNOW

January 198010.50%

Housing +1.20Services other than housing +3.47Core goods +1.81Food +1.05Energy +3.07

July 20263.70%

Housing +0.50Services other than housing +1.98Core goods +0.50Food +0.18Energy +0.54

PLAIN ENGLISH

PCE is the Fed’s preferred inflation measure.

Unlike CPI, PCE covers a broader mix of household spending and changes its weights as consumers change what they buy. These are national averages; your household’s inflation can be different.

CALCULATE YOUR PERSONAL RATE →