Chain Price Index - Excluding Food & Energy

Returns the GDP Chain Price Index excluding volatile food and energy prices, providing a measure of underlying inflation trends.

Data Source

Bureau of Economic Analysis (BEA) - National Income and Product Accounts.

Usage Notes

  • No parameters required
  • Index value (base year = 100)
  • Data updated quarterly
  • Excludes volatile food and energy components

Why Exclude Food & Energy?

Food and energy prices are highly volatile due to:

  • Weather events affecting agriculture
  • Geopolitical events affecting oil prices
  • Seasonal factors

Excluding them shows underlying inflation trends more clearly.

Examples

=ChainPriceIndexWithoutFoodEnergy()
Core GDP chain price index

When to Use

  • Analyzing underlying inflation trends
  • Federal Reserve policy analysis
  • Long-term inflation forecasting
  • Filtering out volatile price swings

When NOT to Use

Scenario Use Instead
Need headline inflation ChainPriceIndex()
Need consumer core inflation ConsumerPriceindexWithoutFoodEnergy()
Need energy inflation ConsumerPriceindexEnergy()

Common Issues & FAQ

Q: Why exclude food and energy? A: Food and energy prices are volatile and can obscure underlying inflation trends. The Fed often focuses on core inflation for policy decisions.

Q: Which is more important - headline or core? A: Both matter. Core shows underlying trends, while headline reflects actual consumer costs.

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MarketXLS Excel Add-in Tutorial - How to Use Chain Price Index - excluding food & energy and Other Financial Formulas
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