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 0.2% in May. The 16% trimmed-mean Consumer Price Index increased 0.1%. “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 4.3% (down from 4.5% in April), the trimmed-mean CPI rose 3.4% (down from 3.5%), and the CPI less food and energy rose 3.4% (down from 3.6%).
Core PCE is for April was up 2.8% YoY, down slightly from 2.8% in March.
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 negative 1.4% month-over-month.