The Cleveland Fed released the median CPI and the trimmed-mean CPI.
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According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.5% in January. The 16% trimmed-mean Consumer Price Index increased 0.5%. “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”.
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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 4.9% (unchanged from 4.9% in December), the trimmed-mean CPI rose 3.7% (down from 3.8%), and the CPI less food and energy rose 3.9% (unchanged from 3.9%).
Core PCE is for December was up 2.9% YoY, down from 3.2% in November.
Note: The Cleveland Fed released the median CPI details. “Used cars and trucks” and “motor fuel” decreased at a 33% annual rate in January.
Rent and Owner’s equivalent rent are still very high, and if we exclude rent, median CPI would be much lower,