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Center for Inflation Research

Welcome to the Federal Reserve Bank of Cleveland’s Center for Inflation Research. The goal of the Center is to improve the understanding of policymakers, researchers, and the public about inflation and the factors that influence its behavior. We invite you to explore the content provided in the tiles below. You may also use the menu on the left to navigate our website. Please see the About Us section to learn more about this initiative.

About Us

Learn more about the Center and our advisory council members.

Inflation 101

Start here for inflation basics: What is inflation? How is it measured? Why does the Fed care about it?

Consumer Price Data

Learn more about different measures of consumer prices, such as the consumer price index (CPI) and the personal consumption expenditures (PCE) price index, and measures of underlying inflation, such as medians, trimmed means, and “core” measures excluding food and energy.

Median CPI

Median CPI ranks the price changes of the components in the CPI from lowest to highest and picks the one in the middle. Its construction makes it less sensitive to short-lived price fluctuations, thereby capturing the trend in prices. Updated monthly.

Inflation Charting

Examine and compare the behavior of various measures of total inflation and underlying inflation.

Inflation Nowcasting

Track our current forecasts of CPI inflation and PCE inflation for a given month or quarter to get a reading of inflation before the official CPI or PCE inflation data are released.

Measures of Expected Inflation

Understand why inflation expectations are important and how models and surveys are used to measure them.

Recent Inflation Research

Find Economic Commentary articles and working papers on our inflation-related research.


Find information about our dedicated inflation conferences, papers presented at our past conferences, and our sponsorship of conference sessions.