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MNI BRIEF: Dallas Fed Monthly Price Gauge Slowest Since April

(MNI) WASHINGTON

The Dallas Fed's trimmed mean PCE inflation rate showed signs of easing as the one-month annualized rate fell to the slowest pace since April to 3.41%.

Still, the six-month annual rate edged higher to 5.06% and the 12-month rate remained near a 40-year high at 4.7%. Officials have cited the Dallas Fed's trimmed mean measure as one of the best indicators of underlying inflation and St. Louis Fed President James Bullard cited the Dallas Fed inflation measure this week while arguing "that it would take a policy rate of at least 4.9% to exert downward pressure on inflation."

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The Dallas Fed's trimmed mean PCE inflation rate showed signs of easing as the one-month annualized rate fell to the slowest pace since April to 3.41%.

Still, the six-month annual rate edged higher to 5.06% and the 12-month rate remained near a 40-year high at 4.7%. Officials have cited the Dallas Fed's trimmed mean measure as one of the best indicators of underlying inflation and St. Louis Fed President James Bullard cited the Dallas Fed inflation measure this week while arguing "that it would take a policy rate of at least 4.9% to exert downward pressure on inflation."

Keep reading...Show less