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NY Fed Underlying Inflation Gauge (UIG)

FED
  • The UIG "full data set" measure for August is currently estimated at 3.8%, unchanged from the previous month.
  • The "prices-only" measure for August is currently estimated at 4.1%, a 0.1 percentage point increase from the previous month.
  • The twelve-month change in the August CPI was +5.3%, unchanged from the previous month.
For August 2021, trend CPI inflation is estimated to be in the 3.8% to 4.1% range. The width of the range is wider than in July, with the upper bound higher than it was in July. Note that the COVID-19 outbreak continues to impact data collection for the CPI release.

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