FX.co ★ US April PCE Price Index Cools to 0.4% Month-on-Month, Easing From March Spike

The US Personal Consumption Expenditures (PCE) price index, a closely watched gauge of inflation, slowed in April 2026, rising 0.4% month-on-month. This marks a moderation from March 2026, when the index had accelerated by 0.7% compared with February, according to data updated on 28 May 2026.

The month-on-month comparison shows that while prices continued to climb in April, the pace of increases eased from the prior month’s stronger print. The “actual” April figure reflects the change from March to April, whereas the “previous” 0.7% reading captured the change from February to March.

The softer April reading may be interpreted by markets as a tentative sign of cooling price pressures after the March uptick, though the index still points to ongoing inflation momentum in the US economy. Investors and policymakers will be watching subsequent PCE releases closely to gauge whether April’s slowdown marks the start of a more sustained moderation in inflation.