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NY Fed: November Multivariate Core Trend (MCT) Inflation Decrease

US

NY Fed's Multivariate Core Trend (MCT) inflation: was 2.3 percent in November, a 0.1 percentage point decrease from October (revised down from 2.6). The 68 percent probability band is (1.9, 2.8).

  • Housing accounted for 0.46 percentage point (ppt) of the increase in the MCT relative to its pre-pandemic average, while services ex. housing accounted for 0.17.
  • The increase in the MCT estimate relative to its pre-pandemic average is in large part due to the sector-specific trend in housing, while the common trend component across the three sector aggregates accounts for 0.21.

NY Federal Reserve/MNI

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