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US DATA: Cleveland Fed Median CPI Bucks Fifteen Month Downtrend

US DATA
  • Cleveland Fed median: 0.31% M/M in July after 0.19% in June. It’s the fastest since April after what was the softest monthly increase since Jan’21. 
  • Cleveland Fed 16% trimmed mean: 0.20% M/M after 0.20%. 
  • Atlanta Fed sticky core CPI ex shelter: 0.14% M/M after 0.13% M/M, two stable (and mild) months after a particularly soft -0.07% in May. 
  • In Y/Y terms, the Cleveland Fed median CPI accelerated a tenth to 4.26% Y/Y, bucking what had been fifteen consecutive months of moderation.
  • However, the trimmed mean was near enough unchanged at 3.31% after 3.34% Y/Y (still lowest since Aug 2021) along with the Atlanta Fed’s sticky core ex shelter at 3.06% after 3.08% Y/Y. 

 

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