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MNI BRIEF:Dallas Fed Trimmed Mean Inflation Fastest Since 1983

(MNI) WASHINGTON
(MNI)

The Dallas Fed's trimmed mean PCE 12-month inflation rate moved higher to 4.40% over the 12 months to July from 4.35% in June, the fastest gain since 1983, underlining why Chair Jerome Powell is resolute about keeping high interest rates until price gains move back to target.

The one-month annualized rate halved in July to 3.39% from 6.92% the prior month and the six-month annualized inflation rate also eased, falling to 4.3% from 4.8% in June. Officials have cited the Dallas Fed's trimmed mean measure as one of the best indicators of underlying inflation.

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The Dallas Fed's trimmed mean PCE 12-month inflation rate moved higher to 4.40% over the 12 months to July from 4.35% in June, the fastest gain since 1983, underlining why Chair Jerome Powell is resolute about keeping high interest rates until price gains move back to target.

The one-month annualized rate halved in July to 3.39% from 6.92% the prior month and the six-month annualized inflation rate also eased, falling to 4.3% from 4.8% in June. Officials have cited the Dallas Fed's trimmed mean measure as one of the best indicators of underlying inflation.

Keep reading...Show less