Cleveland Fed's median CPI increased 0.2%, as did the 16% trimmed mean
Cleveland Fed's median CPI increased 0.2%, as did the 16% trimmed mean. Both of those are alternative measures of core CPI. The BLS reported that CPI excluding food and energy edged up 0.1%. The 12-month readings also increased with the median accelerating to a 3.0% y/y clip versus 2.9% y/y in August. And the trimmed mean rose to a 2.3% y/y rate from 2.2% y/y, with the BLS core measure steady at 2.4% y/y. Policymakers have been split on their inflation outlooks, with several seeing inflation as pretty close to the target, while others, and especially Bullard, have been concerned about the underperformance. Note that Cleveland Fed President Mester is one of the more hawkish on the FOMC and is a voter next year.