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Wednesday, October 13, 2021

Cleveland Fed: Median CPI and Trimmed-mean CPI both increased 0.5% in September

by Calculated Risk on 10/13/2021 11:18:00 AM

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 0.5% in September. The 16% trimmed-mean Consumer Price Index also increased 0.5% in September. "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. "Fuel oil and other fuels" were up 44% annualized.


Note that Owners' Equivalent Rent and Rent of Primary Residence account for almost 1/3 of median CPI, and these measures were up 5.1% annualized in September.

Inflation Measures 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 3.5%, and the CPI less food and energy rose 4.0%. Core PCE is for August and increased 3.6% year-over-year.