America’s Federal Reserve uses a personal-consumption-expenditure index (PCE) rather than the consumer price index because, in part, the formula the PCE uses better reflects this substitution ...

So even if prices didn't go up anymore, they're still 18% higher than they were three years ago – that's what households are feeling." You can look at the Consumer Price Index by clicking here.

Differences in the formulas, components, and weights of each index mean they can paint slightly different pictures of price pressures in the economy. CPI inflation generally runs about 0.4 ...

Based on latest CPI data, prices showed signs of creeping higher in June. However, there were enough dovish points to support those pushing for looser monetary policy.