The fed's favorite inflation gauge, the PCE price index showing signs of peaking, and gas prices are falling.

美联储最青睐的通胀指标——个人消费支出价格指数显示出见顶的迹象，汽油价格也在下。

Slower-rising medical and financial-service costs explain most of the recent drop in PCE inflation.

上升速度减慢的医疗和财政服务解释由PCE的BEA价格指数测量的通货膨胀率近来的下。

It's what's known as PCE inflation, personal consumption expenditures inflation.

这就是所谓的PCE通胀，个人消费支出通胀。

Core PCE prices have been better behaved.

PCE价格表现较好。

The Bureau of Economic Analysis (www.bea.gov) monitors and publishes PCE reports regularly.

分析局（www.bea。gov）定期监测并发布PCE报告。

The Federal Reserve actually prefers PCE.

美联储际上更喜欢PCE。

What accounts for the CPI-PCE divergence?

什么原因造成了 CPI-PCE 差异？

Over time that leads to slightly lower PCE price growth.

随时间的推移，PCE价格涨幅将略有下。

The PCE, which considers distances actually flown, has been lower.

考虑际飞行距离的PCE一直较低。

Several of the items that drove up CPI, particularly motor-vehicle insurance and medical services, are defined differently in PCE calculations.

推高CPI的几个项目，特别是机动车保险和医疗服务，在PCE计算有不同的定义。

Rents make up one-fifth of the basket used to calculate " core" personal-consumption-expenditure (PCE) inflation, which excludes food and energy-the gauge most closely watched by the Fed.

租金在用于计算“核心”个人消费支出(PCE)通胀(不包括食品和能源——美联储最密切关注的指标)的篮子占了五分之一。

Housing makes up about a third of the CPI basket but just 15% of the PCE one, and stubbornly high rents have kept the CPI elevated.

住房约占CPI篮子的三分之一， 但仅占PCE篮子的15%，而居高不下的租金导致CPI居高不下。

Lately, though, they have not: stripping out the volatile food and energy categories, underlying PCE inflation dived to 1.1% in March, while core CPI inflation has stabilised around 1.9% (see chart).

事与愿违，由PCE的BEA价格指数通货膨胀率下到1.1%，由滚动CPI计算的通货膨胀率稳定在1.9%。

Moreover, President Joe Biden's advisers have noted that an alternative gauge of inflation, the personal-consumption-expenditure (PCE) price index, which is usually seen as more reliable by the Fed, has been more muted.

此外，总统乔·拜登的顾问们指出，另一种衡量通胀的指标，即美联储通常认为更可靠的个人消费支出(PCE)价格指数更为模糊不清。

The CPI is more rigid, with its components adjusted annually; the PCE is in effect adjusted every month, reflecting, for example, whether consumers substitute cheaper apples for dearer oranges.

消费者物价指数 (CPI) 更加刚性，其组成部分每年调整一次；而个人消费支出 (PCE) 际上每个月都会调整，例如，反映消费者是否用更便宜的苹果替代更昂贵的橙子。

Apart from being chain-weighted, the PCE includes some things the CPI omits, such as the share of medical expenses borne by employers and governments and supposedly “free” services such as no-fee bank accounts.

滚动加权除外，PCE的BEA价格指数还包括了CPI遗漏的部分，例如由雇主和政府承担的那一部分医疗消费和无息贷款类的免费服务。

Inflation has run about a quarter of a percentage point lower using the chained CPI, and about a third of a point lower using another measure, the BEA's price index of personal consumption expenditure (PCE).

采用滚动CPI计算通货膨胀率会低25%，用另一种方法测量会低1/3个百分点—PCE的BEA价格指数。

Its preferred measure for inflation, the core personal consumption expenditures price index (PCE), will be released in a few weeks, and is expected to come closer to 0.3% month on month in March.

其首选的通胀指标，即核心个人消费支出价格指数（PCE），将在几周后公布， 预计3月份环比将接近0.3%。