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 0.6% in May. The 16% trimmed-mean Consumer Price Index increased 0.8% 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 here: “Fuel oil and other fuels” increased at 339% annualized rate in May!
Note that Owners’ Equivalent Rent and Rent of Primary Residence account for almost 1/3 of median CPI, and these measures were up around 7% annualized in May.
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 5.5%, the trimmed-mean CPI rose 6.5%, and the CPI less food and energy rose 6.0%. Core PCE is for April and increased 4.9% year-over-year.