The average CPI rose 0.7% and the average trimmed CPI increased 0.6% in August

by Calculated risk on 09/13/2022 11:19:00 AM

The Cleveland Fed released its average CPI and average CPI this morning:

According to the Federal Reserve Bank of Cleveland, the average consumer price index rose 0.7% in August. The CPI, which was trimmed 16%, rose 0.6% in August. “The average CPI and the 16% average 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 Federal Reserve released the details of the average CPI here: “Car Fuel” decreased by 73% year-on-year in August!

Note that the homeowner’s rent and equivalent rent calculation of base housing is approximately 1/3 of the average CPI, and these measures have risen 7.5% annually in the Midwest and about 11% in the South with an average of about 8.7%. The annual increase in August was greater than in July.

Click on the chart for a larger picture.

This graph shows the annual change of these four major measures of inflation.

On an annual basis, the average CPI rose 6.7%, the low CPI rose 7.2%, and the CPI minus food and energy increased 6.3%. Core PCE for July is up 4.6% year over year.

Related Posts

Leave a Reply

Your email address will not be published.