| The trimmed mean
PCE inflation rate is an alternative measure
of core inflation in the price index for
Personal Consumption Expenditures (PCE).
It is calculated by staff at the Dallas
Fed, using data from the Bureau of Economic
Analysis (BEA). |
|
August 2007
The trimmed mean PCE inflation
rate for August was an annualized 1.6 percent. According
to the BEA, the overall PCE inflation rate for August
was –0.9 percent, annualized, while the inflation rate
for PCE excluding food and energy was 1.1 percent.
The tables below present data
on the trimmed mean PCE inflation rate and, for comparison,
the overall PCE inflation and the inflation rate for
PCE excluding food and energy. The tables give annualized
one-month, six-month and 12-month inflation rates.
| One-month PCE inflation, annual
rate |
| |
Mar.
07 |
Apr.
07 |
May
07 |
Jun.
07 |
Jul.
07 |
Aug.
07 |
| PCE |
5.5 |
3.5 |
5.9 |
1.8 |
1.0 |
-0.9 |
| PCE excluding food
& energy |
0.8 |
1.3 |
1.4 |
1.7 |
1.6 |
1.1 |
| Trimmed mean
PCE |
2.2 |
1.9 |
1.7 |
2.1 |
1.6 |
1.6 |
|
| Six-month PCE inflation, annual
rate |
| |
Mar.
07 |
Apr.
07 |
May
07 |
Jun.
07 |
Jul.
07 |
Aug.
07 |
| PCE |
2.3 |
3.4 |
4.3 |
3.9 |
3.5 |
2.8 |
| PCE excluding food
& energy |
1.9 |
1.8 |
1.9 |
1.9 |
1.5 |
1.3 |
| Trimmed mean
PCE |
2.3 |
2.3 |
2.3 |
2.3 |
2.0 |
1.9 |
|
| 12-month PCE inflation |
| |
Mar.
07 |
Apr.
07 |
May
07 |
Jun.
07 |
Jul.
07 |
Aug.
07 |
| PCE |
2.5 |
2.3 |
2.4 |
2.3 |
2.1 |
1.8 |
| PCE excluding food
& energy |
2.3 |
2.1 |
2.0 |
1.9 |
1.9 |
1.8 |
| Trimmed mean
PCE |
2.6 |
2.5 |
2.4 |
2.3 |
2.2 |
2.1 |
|
| NOTE: These data are subject
to revision |
The following chart plots the
evolution of the distribution of price increases in
the monthly component data over the past year. The chart
shows the percentage of components each month, weighted
by their shares in total spending, for which prices
grew between 0 and 2 percent (at an annual rate); between
2 and 3 percent; between 3 and 5 percent; between 5
and 10 percent; and more than 10 percent.
|
