In April 2025, the core Personal Consumption Expenditures (PCE) price index in the United States, which excludes the more volatile categories of food and energy, rose by 0.1% from the previous month. This figure aligns with market forecasts. On an annual basis, the index experienced a 2.5% increase, down from a 2.7% rise in March, marking the most modest year-over-year growth since March 2021. This index serves as the Federal Reserve's preferred measure of underlying inflation within the US economy.