Among the PCE price index components, year over year, the nondurable goods subindex was up 0.8 percent in October, down from September's 1.0 percent pace but above the 12-month average of 0.7 percent. The durable goods subindex was down 2.2 percent year over year in October, one-tenth of a percent down from September's pace and consistent with the long-term deflationary trend in the durable goods market. The services subindex rose 2.3 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 more than 3 percent before the recession.
