Cleveland Fed: Key Measures Show Inflation Increased in May

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 0.3% May. The 16% trimmed-mean Consumer Price Index rose 0.4% in May. “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”.

Note: The Cleveland Fed released the median CPI details for May here. Car and truck rental was up 294% annualized! Used cars and trucks were up 132% annualized.

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 2.1%, the trimmed-mean CPI rose 2.6%, and the CPI less food and energy rose 3.8%. Core PCE is for April and increased 3.1% year-over-year.

Note: We saw

Keep reading this article on Bill McBride - Calculedriskblog.

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