The core personal consumption expenditures (PCE) price index in the United States, which excludes prices of food and energy, edged up 0.1 month-over-month in October 2018, following a 0.2 percent gain in September and below market expectations of a 0.2 percent increase. Year-on-year, the core index advanced 1.8 percent, following a downwardly revised 1.9 percent gain in the prior month and below market consensus of a 1.9 percent rise. Core PCE inflation is the Fed's preferred measure of inflation and the central bank targets it at 2 percent. Core Pce Price Index in the United States averaged 59.08 Index Points from 1959 until 2018, reaching an all time high of 110.46 Index Points in October of 2018 and a record low of 16.73 Index Points in January of 1959.
Core Pce Price Index in the United States is expected to be 110.75 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Core Pce Price Index in the United States to stand at 112.10 in 12 months time. In the long-term, the United States Core Personal Consumption Expenditure Price Index is projected to trend around 120.00 Index Points in 2020, according to our econometric models.