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Wednesday, May 15, 2024

Cleveland Fed: Median CPI increased 0.3% and Trimmed-mean CPI increased 0.3% in April

by Calculated Risk on 5/15/2024 11:58:00 AM

The Cleveland Fed released the median CPI and the trimmed-mean CPI.

According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.3% in April. The 16% trimmed-mean Consumer Price Index increased 0.3%. "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".

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 4.5% (down from 4.6% in March), the trimmed-mean CPI rose 3.5% (down from 3.6%), and the CPI less food and energy rose 3.6% (down from 3.8%). 

Core PCE is for March was up 2.8% YoY, down slightly from 2.8% in February.

Note: The Cleveland Fed released the median CPI details. Rent and Owner's equivalent rent are still very high, and if we exclude rent, median CPI would be around 2% year-over-year.