Among the PCE price index components, year over year, the nondurable goods subindex declined 1.7 percent in August, up from a decline of 2.1 percent in July. The durable goods subindex declined 2.0 percent year over year in August, up from a decline of 2.3 percent in July and consistent with the long-term deflationary trend in the durable goods market. The services subindex rose 2.3 percent year over year in August, matching the increase in July. Services account for nearly two thirds of personal expenditures and have experienced relatively stable inflation of around 2 percent since 2010.
