The facts
PCE prices increased 0.5% from August, compared with a 0.3% increase in August. Monthly and annual rates describe different comparison periods. [1][2]
Excluding food and energy, the index rose 0.3% over the month and 3.1% over the year. Revised August core inflation was also 0.3% monthly. [1][2]
Personal income increased 0.2% and nominal consumer spending rose 0.5% in September. Real disposable income fell 0.3%; the personal saving rate was 3.8%. [1]
The Federal Reserve uses PCE inflation for its 2% target. These monthly figures should not be confused with the separately reported annualized quarterly price changes. [1][2]
Sources
References support the numbered facts above. Source checks: 29 Oct 2026, 13:55 UTC.
- Personal income and outlays, September 2026
US Bureau of Economic Analysis · Primary source · 29 Oct 2026
Official release and comparison bases read. Real spending is described as less than 0.1%, consistent with the rounded 0.0% table.
- US inflation heats up in September; consumer spending rises
Reuters · Reporting · 29 Oct 2026
Actual post-release report read, including the August revision. No future interest-rate move is presented as a decision.