Inflation: The difference between CPI and PCE explained

Inflation is at the top [music] of everyone's mind right now. Why, you ask. Because when they go to the grocery store, they're worried about paying higher prices for beef, poultry, cereal, toilet paper, paper towels, you name it.Now, we all know that inflation [music] means an increase in price. And we're going to break it down for you right now. There are two primary ways to measure inflation.First up is the CPI or the consumer price index. And the second one is the PCE, the Fed's preferred inflation index ...