by Calculated Risk on 11/13/2019 01:33:00 PM
Wednesday, November 13, 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% (2.3% annualized rate) in October. The 16% trimmed-mean Consumer Price Index rose 0.3% (3.6% 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 October here. Motor fuel was up 53% annualized.
Earlier today, the BLS reported that the seasonally adjusted CPI for all urban consumers rose 0.4% (4.4% annualized rate) in October. The CPI less food and energy rose 0.2% (1.9% 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 2.4%, and the CPI less food and energy rose 2.3%. Core PCE is for September and increased 1.7% year-over-year.
On a monthly basis, median CPI was at 2.3% annualized and trimmed-mean CPI was at 3.6% annualized.
Overall, these measures are mostly above the Fed's 2% target (Core PCE is below 2%).
Posted by Calculated Risk on 11/13/2019 01:33:00 PM