According to the Federal Reserve Bank of St. Louis, inflation will remain under 2% for 2019. Their “On the Economy Blog” reported that in January 2018, inflation was steadily rising, from 1.8% to its eventual peak of about 2.4% in July. However, that being said, their latest forecast (from December) utilizing the latest available observation for the price index for personal consumption expenditures (PCEPI) indicates that models continue to expect below 2 percent inflation for all of 2019.
“…inflation has averaged under 2 percent. From 2012 to 2017, the PCEPI increased by an average of 1.3 percent per year, with a low of 0.3 percent in 2015 and a high of 1.8 percent in 2012 and 2017.”