by Calculated Risk on 2/13/2024 02:33:00 PM
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”.
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,
