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Comparing Price Measures— The CPI and the PCE Price Index

Comparing Price Measures— The CPI and the PCE Price Index. Kyle Brown, Chief, PCE Branch NABE 15th Annual Economic Measurement Seminar, Washington, DC, July 16th – 17th, 2018. The PCE Price Index and the CPI. What are the Differences?. Composition of the PCE Price Index. Weights.

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Comparing Price Measures— The CPI and the PCE Price Index

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  1. Comparing Price Measures—The CPI and the PCE Price Index Kyle Brown, Chief, PCE Branch NABE 15th Annual Economic Measurement Seminar, Washington, DC, July 16th – 17th, 2018

  2. The PCE Price Index and the CPI

  3. What are the Differences?

  4. Composition of the PCE Price Index

  5. Weights

  6. Medical Care: An Example of Differences • PCE Price Index includes health care paid for by • Households [Corresponds to the CPI scope] • Employers • Government programs • Weight Differences • Price Differences—PPIs used for • Hospitals • Physicians • Nursing homes • Home health care

  7. Scope-adjusted Weights1 1.PCE weights are adjusted (by including or excluding items) to match the content of the CPI.

  8. Core Price Indexes

  9. Market-based PCE Price Index

  10. PCE Contact Information • Kyle Brown, Branch Chief, (301) 278-9688, kyle.brown@bea.gov • Marissa Crawford, Section Chief - Goods, (301) 278-9729, marissa.crawford@bea.gov • Harvey Davis, Section Chief - Services, (301) 278-9719, harvey.davis@bea.gov

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