{"id":19117,"date":"2025-09-10T00:44:00","date_gmt":"2025-09-09T16:44:00","guid":{"rendered":"https:\/\/winsmart.tw\/?post_type=trading_knowledge&p=19117"},"modified":"2025-09-08T12:45:33","modified_gmt":"2025-09-08T04:45:33","slug":"pce%e6%8c%87%e6%95%b8","status":"publish","type":"trading_knowledge","link":"https:\/\/winsmart.tw\/en\/trading_knowledge\/pce%e6%8c%87%e6%95%b8\/","title":{"rendered":"pce\u6307\u6578\u600e\u9ebc\u770b\uff1fpce\u6307\u6578\u4ec0\u9ebc\u6642\u5019\u516c\u5e03\u5462\uff1f"},"content":{"rendered":"

pce\u6307\u6578 01. \u4ec0\u9ebc\u662fpce\u6307\u6578\uff1f<\/strong><\/h2>

PCE \u6307\u6578\uff08Personal Consumption Expenditures Index\uff0c\u500b\u4eba\u6d88\u8cbb\u652f\u51fa\u6307\u6578\uff09\u662f\u7531\u7f8e\u570b\u7d93\u6fdf\u5206\u6790\u5c40\uff08BEA\uff09\u6bcf\u6708\u516c\u5e03\u7684\u91cd\u8981\u901a\u81a8\u8861\u91cf\u6307\u6a19\u3002\u5176\u7d71\u8a08\u7bc4\u7587\u6db5\u84cb\u5c45\u6c11\u5728\u4f11\u9592\u5a1b\u6a02\u3001\u98df\u54c1\u3001\u98f2\u6599\u3001\u4ea4\u901a\u3001\u91d1\u878d\u670d\u52d9\u3001\u91ab\u7642\u8207\u4fdd\u5065\u7b49\u591a\u5143\u6d88\u8cbb\u9805\u76ee\u7684\u652f\u51fa\u8b8a\u5316\u3002<\/p>

\u8207\u5ee3\u70ba\u4eba\u77e5\u7684 CPI \u6307\u6578\u76f8\u6bd4\uff0cPCE \u6307\u6578\u80fd\u66f4\u5168\u9762\u53cd\u6620\u6d88\u8cbb\u8005\u5be6\u969b\u652f\u51fa\u7d50\u69cb\uff0c\u4e14\u7d93\u5e38\u56e0\u52a0\u6b0a\u65b9\u5f0f\u4e0d\u540c\u800c\u5448\u73fe\u8f03\u4f4e\u4e14\u66f4\u5e73\u6ed1\u7684\u901a\u81a8\u6578\u64da\u3002\u56e0\u6b64\uff0c\u7f8e\u570b\u806f\u6e96\u6703\u5728\u5236\u5b9a\u8ca8\u5e63\u653f\u7b56\u6642\uff0c\u66f4\u50be\u5411\u4ee5 PCE \u4f5c\u70ba\u4e3b\u8981\u7684\u901a\u81a8\u53c3\u8003\u57fa\u6e96\u3002<\/p>

\u5728\u6295\u8cc7\u89d2\u5ea6\u800c\u8a00\uff0c\u82e5 PCE \u6307\u6578\u6301\u7e8c\u5feb\u901f\u4e0a\u5347\uff0c\u800c\u7d93\u6fdf\u6210\u9577\u672a\u80fd\u540c\u6b65\u8ddf\u4e0a\uff0c\u5f80\u5f80\u4ee3\u8868\u901a\u81a8\u58d3\u529b\u5347\u9ad8\uff0c\u5e02\u5834\u53ef\u80fd\u56e0\u6b64\u63d0\u524d\u53cd\u61c9\u7dca\u7e2e\u9810\u671f\u3002\u76f8\u53cd\u5730\uff0c\u82e5 PCE \u5927\u5e45\u4e0b\u6ed1\uff0c\u5247\u53ef\u80fd\u610f\u5473\u9700\u6c42\u75b2\u5f31\u3001\u901a\u8ca8\u7dca\u7e2e\u98a8\u96aa\u4e0a\u5347\uff0c\u5e02\u5834\u60c5\u7dd2\u4e5f\u6703\u8da8\u65bc\u4fdd\u5b88\u3002<\/p>

pce\u6307\u6578 02. \u4ec0\u9ebc\u662fcpi\u6307\u6578\uff1f<\/strong><\/h2>
\"pce\u6307\u6578\"
pce\u6307\u6578<\/strong><\/figcaption><\/figure>

CPI \u6307\u6578\uff08Consumer Price Index\uff0c\u6d88\u8cbb\u8005\u7269\u50f9\u6307\u6578\uff09\u662f\u7f8e\u570b\u91d1\u878d\u5e02\u5834\u6700\u70ba\u95dc\u6ce8\u7684\u901a\u81a8\u6307\u6a19\u4e4b\u4e00\u3002\u8a72\u6578\u64da\u7531\u7f8e\u570b\u52de\u5de5\u90e8\u65d7\u4e0b\u7684\u52de\u5de5\u7d71\u8a08\u5c40\uff08Bureau of Labor Statistics, BLS\uff09\u8ca0\u8cac\u7de8\u88fd\uff0c\u8abf\u67e5\u7bc4\u7587\u6db5\u84cb\u6d88\u8cbb\u8005\u5728\u4f4f\u623f\u3001\u98df\u54c1\u3001\u4ea4\u901a\u3001\u91ab\u7642\u3001\u6210\u8863\u8207\u5a1b\u6a02\u7b49\u591a\u9805\u652f\u51fa\u3002<\/p>

\u900f\u904e\u5c07\u7576\u671f\u6578\u64da\u8207\u6b77\u53f2 CPI \u9032\u884c\u6bd4\u8f03\uff0c\u6295\u8cc7\u4eba\u80fd\u89c0\u5bdf\u50f9\u683c\u6c34\u6e96\u7684\u8b8a\u52d5\u8da8\u52e2\uff0c\u9032\u800c\u8a55\u4f30\u6f5b\u5728\u7684\u901a\u81a8\u6216\u901a\u7e2e\u98a8\u96aa\u3002\u7531\u65bc CPI \u76f4\u63a5\u53cd\u6620\u6d88\u8cbb\u8005\u65e5\u5e38\u751f\u6d3b\u6210\u672c\uff0c\u5176\u516c\u5e03\u5f80\u5f80\u5c0d\u7f8e\u50b5\u6b96\u5229\u7387\u3001\u7f8e\u5143\u8d70\u52e2\u4ee5\u53ca\u80a1\u5e02\u8cc7\u91d1\u6d41\u52d5\u7522\u751f\u986f\u8457\u5f71\u97ff\u3002<\/p>

\u8207 PCE \u76f8\u6bd4\uff0cCPI \u66f4\u80fd\u5373\u6642\u53cd\u6620\u6c11\u773e\u9ad4\u611f\u7684\u7269\u50f9\u58d3\u529b\uff0c\u4f46\u5728\u6b0a\u91cd\u8a2d\u8a08\u4e0a\u76f8\u5c0d\u50f5\u5316\uff0c\u5bb9\u6613\u53d7\u5230\u55ae\u4e00\u54c1\u9805\uff08\u5982\u80fd\u6e90\u6216\u98df\u54c1\u50f9\u683c\uff09\u77ed\u671f\u6ce2\u52d5\u7684\u5f71\u97ff\u3002\u56e0\u6b64\uff0c\u806f\u6e96\u6703\u5728\u5236\u5b9a\u653f\u7b56\u6642\uff0c\u901a\u5e38\u5c07 PCE \u8996\u70ba\u6838\u5fc3\u4f9d\u64da\uff0c\u800c CPI \u5247\u662f\u5e02\u5834\u60c5\u7dd2\u8207\u6295\u8cc7\u6c7a\u7b56\u7684\u91cd\u8981\u53c3\u8003\u3002<\/p>

pce\u6307\u6578 03. pce\u8207cpi\u6307\u6578\u6709\u4ec0\u9ebc\u4e0d\u540c ?<\/strong><\/h2>

\u6574\u9ad4\u800c\u8a00\uff0cPCE \u6307\u6578\u8207 CPI \u6307\u6578\u7686\u7528\u4f86\u8861\u91cf\u6d88\u8cbb\u652f\u51fa\u72c0\u6cc1\uff0c\u4f46\u5169\u8005\u5728\u8a2d\u8a08\u8207\u6db5\u84cb\u7bc4\u570d\u4e0a\u5b58\u5728\u5dee\u7570\u3002CPI \u5074\u91cd\u65bc\u5bb6\u5ead\u6d88\u8cbb\u652f\u51fa\u7684\u8b8a\u5316\uff0c\u8abf\u67e5\u7bc4\u7587\u76f8\u5c0d\u56fa\u5b9a\uff1b\u800c PCE \u9664\u4e86\u6db5\u84cb\u500b\u4eba\u6d88\u8cbb\u5916\uff0c\u9084\u53ef\u80fd\u7d0d\u5165\u4f01\u696d\u92b7\u552e\u6578\u64da\u8207\u5176\u4ed6\u975e\u76f4\u63a5\u500b\u4eba\u652f\u51fa\uff0c\u4f7f\u5176\u8986\u84cb\u9762\u66f4\u5ee3\u3002<\/p>

\u6b64\u5916\uff0cPCE \u5728\u8a08\u7b97\u6b0a\u91cd\u4e0a\u6703\u6301\u7e8c\u4f9d\u64da\u5be6\u969b\u6d88\u8cbb\u884c\u70ba\u9032\u884c\u8abf\u6574\uff0c\u66f4\u80fd\u53cd\u6620\u6700\u65b0\u7684\u6d88\u8cbb\u7d50\u69cb\u8b8a\u5316\uff1b\u76f8\u8f03\u4e4b\u4e0b\uff0cCPI \u7684\u6b0a\u91cd\u66f4\u65b0\u983b\u7387\u8f03\u4f4e\uff0c\u5bb9\u6613\u53d7\u5236\u65bc\u65e2\u6709\u8a2d\u8a08\u3002\u9019\u4e5f\u662f\u70ba\u4f55 PCE \u901a\u5e38\u88ab\u8996\u70ba\u66f4\u8cbc\u8fd1\u5be6\u969b\u6c11\u751f\u72c0\u6cc1\u7684\u901a\u81a8\u8861\u91cf\u6307\u6a19\u3002<\/p>

\u5c0d\u6295\u8cc7\u4eba\u800c\u8a00\uff0c\u9019\u5169\u9805\u6578\u64da\u90fd\u662f\u7814\u5224\u7f8e\u570b\u901a\u81a8\u8d70\u52e2\u7684\u91cd\u8981\u4f9d\u64da\u3002\u806f\u6e96\u6703\u5728\u5236\u5b9a\u8ca8\u5e63\u653f\u7b56\u6642\uff0c\u6838\u5fc3\u53c3\u8003\u6307\u6a19\u4ee5 PCE \u70ba\u4e3b\uff0c\u4f46 CPI \u4ecd\u662f\u91d1\u878d\u5e02\u5834\u9ad8\u5ea6\u654f\u611f\u3001\u4e14\u6703\u5373\u6642\u89f8\u767c\u8cc7\u7522\u50f9\u683c\u6ce2\u52d5\u7684\u95dc\u9375\u6578\u64da\u3002<\/p>

\u6307\u6a19<\/th>PCE\uff08Personal Consumption Expenditures\uff09<\/strong><\/th>CPI\uff08Consumer Price Index\uff09<\/strong><\/th><\/tr><\/thead>
\u7de8\u88fd\u6a5f\u69cb<\/strong><\/td>\u7f8e\u570b\u7d93\u6fdf\u5206\u6790\u5c40\uff08BEA\uff09<\/td>\u7f8e\u570b\u52de\u5de5\u7d71\u8a08\u5c40\uff08BLS\uff09<\/td><\/tr>
\u6db5\u84cb\u7bc4\u570d<\/strong><\/td>\u6db5\u84cb\u500b\u4eba\u8207\u90e8\u5206\u4f01\u696d\u652f\u51fa\uff0c\u7bc4\u570d\u8f03\u5ee3<\/td>\u8457\u91cd\u65bc\u5bb6\u5ead\u8207\u6d88\u8cbb\u8005\u652f\u51fa\uff0c\u7bc4\u570d\u8f03\u7a84<\/td><\/tr>
\u6b0a\u91cd\u8abf\u6574<\/strong><\/td>\u52d5\u614b\u8abf\u6574\uff0c\u4f9d\u7167\u6700\u65b0\u6d88\u8cbb\u884c\u70ba\u8b8a\u5316<\/td>\u6b0a\u91cd\u76f8\u5c0d\u56fa\u5b9a\uff0c\u66f4\u65b0\u983b\u7387\u8f03\u4f4e<\/td><\/tr>
\u6578\u64da\u7279\u6027<\/strong><\/td>\u6578\u64da\u8f03\u5e73\u6ed1\u3001\u6ce2\u52d5\u5c0f\uff0c\u66f4\u80fd\u53cd\u6620\u9577\u671f\u8da8\u52e2<\/td>\u6578\u64da\u654f\u611f\u5ea6\u9ad8\uff0c\u80fd\u5373\u6642\u53cd\u6620\u7269\u50f9\u58d3\u529b<\/td><\/tr>
\u4ee3\u8868\u6027<\/strong><\/td>\u66f4\u8cbc\u8fd1\u6574\u9ad4\u6c11\u751f\u6d88\u8cbb\u7d50\u69cb<\/td>\u66f4\u8cbc\u8fd1\u6d88\u8cbb\u8005\u9ad4\u611f\u7684\u7269\u50f9\u58d3\u529b<\/td><\/tr>
\u653f\u7b56\u7528\u9014<\/strong><\/td>\u806f\u6e96\u6703\u5236\u5b9a\u8ca8\u5e63\u653f\u7b56\u7684\u4e3b\u8981\u901a\u81a8\u53c3\u8003<\/td>\u5e02\u5834\u6295\u8cc7\u4eba\u8207\u5a92\u9ad4\u95dc\u6ce8\u5ea6\u9ad8\uff0c\u5e38\u5f71\u97ff\u77ed\u671f\u884c\u60c5<\/td><\/tr><\/tbody><\/table><\/figure>

\u5ef6\u4f38\u95b1\u8b80\uff1a\u5fae\u578b\u5c0fSP\u671f\u8ca8\u6700\u65b0\u653b\u7565\uff0c\u5e36\u4f60\u5feb\u901f\u5165\u9580\u5fae\u578b\u5c0fSP500\u671f\u8ca8<\/a><\/strong><\/p>

\ud83d\udc49\u5982\u4f55\u6293\u4f4f\u8d77\u6f32\u9ede ? \u514d\u8cbb\u7d22\u53d6 >> \u9ad8\u500d\u901f\u7372\u5229\u8cb7\u9ede\u96fb\u5b50\u66f8<\/a><\/strong><\/p>

\"\u9ad8\u500d\u901f\u7372\u5229\u8cb7\u9ede\u96fb\u5b50\u66f8\"<\/a><\/figure>

pce\u6307\u6578 04. pce \u6307\u6578\u7684\u516c\u5e03\u6642\u9593\u5b89\u6392<\/strong><\/h2>