The personal consumption expenditure (PCE) price index in the United States increased 0.2 percent month-over-month in October of 2018, following a 0.1 percent rise in each of the previous four months and matching market expectations. Cost of goods rose by 0.2 percent, compared with a 0.1 percent drop in September, as durable goods edged up 0.1 percent (vs -0.4 percent in September) and nondurables increased 0.3 percent from 0.1 percent in September. Meanwhile, prices of services went up 0.2 percent, the same pace as in the previous four months. Excluding food and energy, PCE prices were up 0.1 percent, after a 0.2 percent gain in September and slightly below market expectations of 0.2 percent. Year-on-year, the PCE price index advanced 2 percent, the same as in the prior month, and the core index rose 1.8 percent, below a 1.9 percent gain in September. Pce Price Index in the United States averaged 57.78 Index Points from 1959 until 2018, reaching an all time high of 108.77 Index Points in October 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 110.28 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.