Federal Reserve Economic Data: Your trusted data source since 1991

Median Consumer Price Index (MEDCPIM157SFRBCLE)


Aug 2023: 0.32957 (+ more)   Updated: Sep 13, 2023
Aug 2023:  0.32957  
Jul 2023:  0.18834  
Jun 2023:  0.35590  
May 2023:  0.37993  
Apr 2023:  0.40036  
View All


Percent Change,
Seasonally Adjusted




Source: Federal Reserve Bank of Cleveland  

Release: Current Median CPI  

Units:  Percent Change, Seasonally Adjusted

Frequency:  Monthly


Median Consumer Price Index (CPI) is a measure of core inflation calculated the Federal Reserve Bank of Cleveland and the Ohio State University. Median CPI was created as a different way to get a 'Core CPI' measure, or a better measure of underlying inflation trends. To calculate the Median CPI, the Cleveland Fed analyzes the median price change of the goods and services published by the BLS. The median price change is the price change that's right in the middle of the long list of all of the price changes. This series excludes 49.5% of the CPI components with the highest and lowest one-month price changes from each tail of the price-change distribution resulting in a Median CPI Inflation Estimate.

According to research from the Cleveland Fed, the Median CPI provides a better signal of the inflation trend than either the all-items CPI or the CPI excluding food and energy. According to newer research done at the Cleveland Fed, the Median CPI is even better at PCE inflation in the near and longer term than the core PCE.

For further information, visit The Federal Reserve Bank of Cleveland.

Suggested Citation:

Federal Reserve Bank of Cleveland, Median Consumer Price Index [MEDCPIM157SFRBCLE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MEDCPIM157SFRBCLE, September 27, 2023.


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