The December Summary of Economic Projections for 2014 personal consumption expenditure (PCE) inflation decreased at the lower and upper bound of the central tendency from the September projection by 0.3 and 0.4 percentage points, respectively. The 2015 projection decreased at the lower bound and upper bound of the central tendency, and the 2016 and 2017 projections remained the same. The long-term central tendency projection remained unchanged from the September projection of 2.0 percent.
