March 2013

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).

• Series description

The trimmed mean PCE inflation rate for March was an annualized 1.0 percent. According to the BEA, the overall PCE inflation rate for March was -1.6 percent, annualized, while the inflation rate for PCE excluding food and energy was 0.4 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.

• Components included and excluded from this month's Trimmed Mean

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.

• Chart data

Data

• Historical data
• Historical data prior to the 2009 revision (DISCONTINUED)

Related Publications and Resources

• "A Fitter, Trimmer Core Inflation Measure" by Jim Dolmas, Federal Reserve Bank of Dallas Southwest Economy, May/June 2005
  
• “Trimmed Mean PCE Inflation” by Jim Dolmas, Federal Reserve Bank of Dallas Research Department Working Paper 0506, provides a more detailed look at the methodology behind the trimmed mean inflation rate.
  
• The Cleveland Fed’s median CPI is a forerunner and close relative of the trimmed mean PCE inflation rate.

2013 Release Dates

• April 29
• May 31
• June 27
• August 2
• August 30
• September 27
• October 31
• November 27
• December 23