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MNI BRIEF: Dallas Fed Trimmed Mean Inflation Shows A Step Down

(MNI) Washington

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 was 3.04% in April, stepping down for the second month near 3% after running over 4% in the fall and surging to 6.29% in January.

Still, the 12-month inflation rate moved higher to 3.75% over the 12 months to April from 3.70% in March, the fastest annual gain since 1991. Officials have cited the Dallas Fed's measure as one of the best indicators of underlying inflation.

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The Dallas Fed's trimmed mean PCE inflation one-month annualized rate was 3.04% in April, stepping down for the second month near 3% after running over 4% in the fall and surging to 6.29% in January.

Still, the 12-month inflation rate moved higher to 3.75% over the 12 months to April from 3.70% in March, the fastest annual gain since 1991. Officials have cited the Dallas Fed's measure as one of the best indicators of underlying inflation.

Keep reading...Show less