Among the PCE price index components, year over year, the nondurable goods subindex was up 1.0 percent in September, up from August’s 0.9 percent pace and above the 12-month average of 0.6 percent. The durable goods subindex was down 2.3 percent year over year in September, unchanged from August’s pace, and consistent with the long-term deflationary trend in the durable goods market. The services subindex rose 2.2 percent year over year. Services, which account for nearly two-thirds of personal expenditures, have experienced relatively stable inflation of around 2 percent since 2010, down from a little over 3 percent before the recession.
