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Cleveland Fed: Median CPI increased 0.7% and Trimmed-mean CPI increased 0.6% in September


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 0.7% in September. The 16% trimmed-mean Consumer Price Index increased 0.6% 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”.

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 7.0%, the trimmed-mean CPI rose 7.3%, and the CPI less food and energy rose 6.6%. Core PCE is for August and increased 4.9% year-over-year.

Note: The Cleveland Fed released the median CPI details here: “Motor Fuel” decreased at a 45% annualized rate in September.

Note that Owners’ Equivalent Rent and Rent of Primary Residence account for almost 1/3 of median CPI, and these measures were up between 3.7% annualized in the Midwest and almost 13% in the South with an average of close to 10% annualized. The year-over-year increase was larger in September than in August.  This data is lagged, and actually rent growth has slowed in recent months.

BLS: CPI increased 0.4% in September; Core CPI increased 0.6%

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