Inflation: The difference between CPI and PCE explained

Inflation impacts nearly everything you pay for, from food and rent to monthly bills. There are two primary ways inflation is measured in the US: the Consumer Price Index (CPI) and the Personal Consumption Expenditures Price Index (PCE).CPI is the one that gets the headlines. It impacts things like Social Security's annual cost-of-living adjustment.PCE is the one that the Federal Reserve prefers to use when it determines what it should do about interest rates. But what's the difference between the two? Watc ...