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Regional Fed CPI Measures Re-Moderate In October

US DATA
  • Consistent with the dispersion measures we showed earlier, the Cleveland Fed’s median CPI slowed from 0.46% to 0.32% M/M in October, just under the 0.33 in Aug for its lowest since July and before that Jul’21.
  • Its 16% trimmed mean measure meanwhile slowed from 0.40% to 0.24% M/M, back towards the string of 0.21-0.23% readings in four of the five months through Mar-Jul.
  • Separately, the Atlanta Fed’s non-shelter sticky core CPI eased from 0.34% to 0.28% M/M for its lowest since July.
  • In Y/Y terms, the Cleveland Fed median is 5.3% (lowest since Mar’22) and trimmed mean 4.1% (lowest since Oct’21) whilst the Atlanta Fed non-shelter sticky core increased a tenth to 3.0% but was otherwise the lowest since Sep’21.

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