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Cleveland Fed: Median CPI increased 0.5% and Trimmed-mean CPI increased 0.5% in November

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by Calculated Risk on 12/10/2021 11:34:00 AM

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 0.5% in November. The 16% trimmed-mean Consumer Price Index increased 0.5% in November. “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” were up 104% annualized.

Note that Owners’ Equivalent Rent and Rent of Primary Residence account for almost 1/3 of median CPI, and these measures were up around 5% to 6% annualized in November.

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 3.5%, the trimmed-mean CPI rose 4.6%, and the CPI less food and energy rose 4.9%. Core PCE is for October and increased 4.1% year-over-year.

BLS: CPI increased 0.8% in November; Core CPI increased 0.5%

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