The personal consumption expenditure (PCE) price index in the United States increased 0.1 percent month-over-month in September of 2018, the same pace as in the previous three months and matching market expectations. Prices of services edged up 0.2 percent, the same pace as in August, July and June. Cost of goods went down 0.1 percent, the same pace as in August: cost of durable goods fell (-0.4 percent compared to -0.3 percent) while prices of nondurables went up 0.1 percent, the same pace as in August. Excluding food and energy, PCE prices were up 0.2 percent, after being flat in August and slightly above market expectations of a 0.1 percent gain. Year-on-year, the PCE price index advanced 2.0 percent, after a 2.2 percent gain in the prior month, and the core index rose 2.0 percent, the same pace as in August. Pce Price Index in the United States averaged 57.71 Index Points from 1959 until 2018, reaching an all time high of 108.60 Index Points in September of 2018 and a record low of 16.07 Index Points in January of 1959.
Pce Price Index in the United States is expected to be 117.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Pce Price Index in the United States to stand at 110.21 in 12 months time. In the long-term, the United States Personal Consumption Expenditure Price Index is projected to trend around 121.00 Index Points in 2020, according to our econometric models.