US core consumer prices, excluding volatile items such as food and energy, increased 0.3 percent month-over-month in August of 2019, the same pace as in the prior month and against market expectations of a 0.2 percent gain. The medical care index was the largest contributor to the August increase, while the physicians’ services index was unchanged and the prescription drugs index declined slightly. Year-on-year, core consumer prices rose 2.4 percent, following a 2.2 percent increase in July and against market consensus of a 2.3 percent gain. Core Consumer Prices in the United States averaged 126.38 Index Points from 1957 until 2019, reaching an all time high of 264.25 Index Points in August of 2019 and a record low of 28.50 Index Points in January of 1957.
Core Consumer Prices in the United States is expected to be 263.67 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Core Consumer Prices in the United States to stand at 267.53 in 12 months time. In the long-term, the United States Core Consumer Prices is projected to trend around 276.00 Index Points in 2020, according to our econometric models.