Among the PCE price index components, year over year, the nondurable goods subindex was minus 2.1 percent in July, down from minus 1.6 percent in June. The durable goods subindex was minus 2.3 percent year over year in July, matching the decrease in June and consistent with the long-term deflationary trend in the durable goods market. The services subindex rose 2.3 percent year over year in July, up from 2.2 percent in June. Services account for nearly two thirds of personal expenditures and have experienced relatively stable inflation of around 2 percent since 2010.
