Real Personal Consumption Expenditures (Monthly)
Returns real (inflation-adjusted) personal consumption expenditures at monthly frequency from FRED.
Data Source
Data is sourced from the Bureau of Economic Analysis via FRED, reported monthly.
Notes
- More frequent updates than quarterly PCE
- Values in billions of chained dollars
- Useful for tracking near-term consumer trends
Syntax
=RealPersonalConsumptionExpMonthly()Examples
Current monthly PCE
When to Use
- Near-term consumer spending analysis
- Monthly economic tracking
- High-frequency economic monitoring
- Consumer trend analysis
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Quarterly analysis | RealPersonalConsumptionExpenditure() |
| Durable goods breakdown | RealPersonalConsumptionExpDurableGoods() |
| Services breakdown | RealPersonalConsumptionExpServices() |
Common Issues & FAQ
How is this different from quarterly PCE?
Same measure but reported monthly for more timely analysis.
When is this released?
Monthly, typically at the end of the following month.
Related Formulas
More MarketXLS Economic Data formulas you can use in the same worksheet:
- Real Personal Income Excluding Transfer Receipts
- Real Potential Gross Domestic Product
- Real Private Nonresidential Fixed Investment
- Real Private Residential Fixed Investment
- Residential Construction
- S&P 500
- Sales - Retail & Food Services
- St. Louis Fed Financial Stress Index
See RealPersonalConsumptionExpMonthly used in a complete workbook: PCE Inflation Tracker Excel: Core PCE Dashboard for May 2026 Fed Watchers
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