Core consumer prices in the United States, excluding volatile items such as food and energy, rose 0.2 percent month-over-month in October 2018, following a 0.1 percent increase in September and matching market expectations. It is the highest monthly core inflation rate since July. The shelter index went up 0.2 percent, and the indexes for used cars and trucks (2.6%), the indexes for medical care (0.2%), household furnishings and operations (0.3%), motor vehicle insurance (0.5%), and tobacco (1.3%) all rose. The indexes for communication (-0.4%), new vehicles (-0.2%), and recreation (-0.1%) all declined. Year-on-year, core inflation eased to 2.1 percent in October from 2.2 percent in September, hitting its lowest level since April and below estimates of 2.2 percent. Core Consumer Prices in the United States averaged 124.56 Index Points from 1957 until 2018, reaching an all time high of 258.94 Index Points in October of 2018 and a record low of 28.50 Index Points in January of 1957.
Core Consumer Prices in the United States is expected to be 260.25 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 264.13 in 12 months time. In the long-term, the United States Core Consumer Prices is projected to trend around 272.09 Index Points in 2020, according to our econometric models.