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NY Fed Underlying Inflation Gauge (UIG) Inching Lower

US

According to the NY Fed, the latest UIG "full data set" measure for February is currently estimated at 4.8% vs. 5.1% in Januray.

  • The "prices-only" measure for February is currently estimated at 3.9%, a 0.3 percentage point decrease from the current estimate of the previous month.
  • The twelve-month change in the February CPI was +6%, a 0.4 percentage point decrease from the previous month.
  • For February 2023, trend CPI inflation is estimated to be in the 3.9% to 4.8% range, a similar range compared to January, with a 0.3 percentage point decrease of both its lower and upper bounds.

NY Federal Reserve

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