Median PCE Inflation
- Description: We calculate the median PCE inflation rate based on data released in the Bureau of Economic Analysis’ monthly Personal Income and Outlays report.
- Median PCE inflation is the one-month inflation rate of the component whose expenditure weight is in the 50th percentile of price changes.
- Benefits: By omitting outliers (small and large price changes) and focusing on the interior of the distribution of price changes, the median PCE inflation rate can provide a better signal of the underlying inflation trend than either the all-items PCE price index or the PCE price index excluding food and energy (also known as the core PCE price index).
Percent change from previous month
| Date | Feb-2022 | Mar-2022 | Apr-2022 | May-2022 | Jun-2022 | Jul-2022 |
|---|---|---|---|---|---|---|
| Median PCE Inflation | 0.4 | 0.2 | 0.4 | 0.6 | 0.7 | 0.3 |
| PCE Inflation | 0.5 | 0.9 | 0.2 | 0.6 | 1 | -0.1 |
| Core PCE Inflation | 0.3 | 0.3 | 0.3 | 0.4 | 0.6 | 0.1 |
Percent change, past 12 months
| Date | Feb-2022 | Mar-2022 | Apr-2022 | May-2022 | Jun-2022 | Jul-2022 |
|---|---|---|---|---|---|---|
| Median PCE Inflation | 4.1 | 4.1 | 4.4 | 4.7 | 5.2 | 5.2 |
| PCE Inflation | 6.3 | 6.6 | 6.3 | 6.3 | 6.8 | 6.3 |
| Core PCE Inflation | 5.3 | 5.2 | 4.9 | 4.7 | 4.8 | 4.6 |