The September Summary of Economic Projections for 2014 personal consumption expenditures (PCE) inflation remained unchanged at the lower and upper bounds of the central tendency from the June projection. The 2015 projection increased at the lower bound and decreased at the lower bound of the central tendency, and the 2016 projection increased at the lower bound and remained unchanged at the upper bound. For the first time, the projection of the central tendency of PCE inflation in 2017 was released, and it is projected to be between 1.9 percent and 2.0 percent. The long-term central tendency projection remained unchanged from the June projection of 2.0 percent in September.
