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Trimmed Mean PCE Inflation Rate (PCETRIM1M158SFRBDAL)


Jan 2023: 6.33 (+ more)   Updated: Feb 24, 2023
Jan 2023:  6.33  
Dec 2022:  4.01  
Nov 2022:  3.61  
Oct 2022:  4.49  
Sep 2022:  4.08  
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Percent Change at Annual Rate,
Seasonally Adjusted




Source: Federal Reserve Bank of Dallas  

Release: Trimmed Mean PCE Inflation Rate  

Units:  Percent Change at Annual Rate, Seasonally Adjusted

Frequency:  Monthly


The Trimmed Mean PCE inflation rate produced by the Federal Reserve Bank of Dallas is an alternative measure of core inflation in the price index for personal consumption expenditures (PCE). The data series is calculated by the Dallas Fed, using data from the Bureau of Economic Analysis (BEA). Calculating the trimmed mean PCE inflation rate for a given month involves looking at the price changes for each of the individual components of personal consumption expenditures. The individual price changes are sorted in ascending order from “fell the most” to “rose the most,” and a certain fraction of the most extreme observations at both ends of the spectrum are thrown out or trimmed. The inflation rate is then calculated as a weighted average of the remaining components. The trimmed mean inflation rate is a proxy for true core PCE inflation rate. The resulting inflation measure has been shown to outperform the more conventional “excluding food and energy” measure as a gauge of core inflation.

Suggested Citation:

Federal Reserve Bank of Dallas, Trimmed Mean PCE Inflation Rate [PCETRIM1M158SFRBDAL], retrieved from FRED, Federal Reserve Bank of St. Louis;, March 22, 2023.


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