RSS Feed by Calculated Risk on 8/14/2024 02:58:00 PM
Wednesday, August 14, 2024
Cleveland Fed: Median CPI increased 0.3% and Trimmed-mean CPI increased 0.2% in July
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 July. The 16% trimmed-mean Consumer Price Index increased 0.2%. "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".
Click on graph for larger image.
This graph shows the year-over-year change for these four key measures of inflation.
Note: The Cleveland Fed released the median CPI details. Fuel oil and other fuels increased at a 25% annual rate in July.
According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.3% in July. The 16% trimmed-mean Consumer Price Index increased 0.2%. "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".
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 4.3% (up from 4.2% in June), the trimmed-mean CPI rose 3.2% (down from 3.3%), and the CPI less food and energy rose 3.3% (unchanged from 3.3%).
Core PCE is for July was up 2.6% YoY, unchanged from 2.6% in June.
Note: The Cleveland Fed released the median CPI details. Fuel oil and other fuels increased at a 25% annual rate in July.
Rent and Owner's equivalent rent are still high, and if we exclude rent, median CPI would be around 1.5% month-over-month, annualized.
