by Calculated Risk on 10/10/2019 11:09:00 AM
Thursday, October 10, 2019
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 0.2% (3.0% annualized rate) in September. The 16% trimmed-mean Consumer Price Index also 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 September here. Motor fuel was down 25% annualized.
Earlier today, the BLS reported that the seasonally adjusted CPI for all urban consumers was unchanged (0.3% annualized rate) in September. The CPI less food and energy rose 0.1% (1.6% 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 3.0%, the trimmed-mean CPI rose 2.3%, and the CPI less food and energy rose 2.4%. Core PCE is for August and increased 1.6% year-over-year.
On a monthly basis, median CPI was at 3.0% annualized and trimmed-mean CPI was at 1.9% annualized.
Overall, these measures are mostly above the Fed's 2% target (Core PCE is below 2%).
Posted by Calculated Risk on 10/10/2019 11:09:00 AM