The US PCE price index rose by 0.3% from the previous month in January of 2026, aligned with market expectations and slowing slightly from the 0.4% increase from the previous month. Costs of durable goods rose by 0.4% from December's 0.5% jump, offsetting the 0.1% drop in nondurable goods. When excluding energy and food prices, the core PCE price index rose by a sharper 0.4%. From the previous year, the PCE price index rose by 2.8%, easing from the 2.9% increase in the previous month but remaining sharply above the Federal Reserve's 2% target.