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MNI BRIEF: Dallas Fed's Trimmed Mean PCE Inflation Slows

(MNI) Washington
WASHINGTON (MNI)

The 12-month PCE inflation rate continues to increase, reaching the fastest gain since 1991.

The Dallas Fed's trimmed mean PCE inflation one-month annualized rate took a step down to 3.08% in March, the slowest since August last year, and half of the rate seen just two months ago.

Still, the 12-month inflation rate quickened to 3.70% over the 12 months to March, the fastest annual gain since 1991. Officials have cited the Dallas Fed's measure as one of the best indicators of underlying inflation and it had stayed near 2% throughout the pandemic before surging late last year.

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The Dallas Fed's trimmed mean PCE inflation one-month annualized rate took a step down to 3.08% in March, the slowest since August last year, and half of the rate seen just two months ago.

Still, the 12-month inflation rate quickened to 3.70% over the 12 months to March, the fastest annual gain since 1991. Officials have cited the Dallas Fed's measure as one of the best indicators of underlying inflation and it had stayed near 2% throughout the pandemic before surging late last year.

Keep reading...Show less