by Calculated Risk on 9/13/2018 12:20:00 PM
Thursday, September 13, 2018
The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning:
According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.1% (1.7% annualized rate) in August. The 16% trimmed-mean Consumer Price Index rose 0.2% (1.9% annualized rate) during the month. The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics' (BLS) monthly CPI report.Note: The Cleveland Fed released the median CPI details for August here. Motor fuel increased at a 42% annual rate in August.
Earlier today, the BLS reported that the seasonally adjusted CPI for all urban consumers rose 0.2% (2.7% annualized rate) in August. The CPI less food and energy rose 0.1% (1.0% annualized rate) on a seasonally adjusted basis.
Click on graph for larger image.
This graph shows the year-over-year change for these four key measures of inflation. On a year-over-year basis, the median CPI rose 2.8%, the trimmed-mean CPI rose 2.2%, and the CPI less food and energy rose 2.2%. Core PCE is for July and increased 2.0% year-over-year.
On a monthly basis, median CPI was at 1.7% annualized, trimmed-mean CPI was at 1.9% annualized, and core CPI was at 1.0% annualized.
Using these measures, inflation decreased on a year-over-year basis in August. Overall, these measures are at or above the Fed's 2% target.
Posted by Calculated Risk on 9/13/2018 12:20:00 PM