Dallas Fed Trimmed Mean PCE 4.6 Percent for 12 Months Through May 

June 30, 2023

DALLAS—The Trimmed Mean PCE inflation rate over the 12 months ending in May was 4.6 percent—down slightly from April—according to the Federal Reserve Bank of Dallas. The one-month annualized rate of Trimmed Mean PCE inflation was 3.2 percent.

The overall personal consumption expenditures (PCE) inflation rate for May, released by the Bureau of Economic Analysis (BEA), was 3.8 percent on a 12-month basis and an annualized 1.6 percent for the month; the inflation rate for PCE excluding food and energy was 4.6 percent on a 12-month basis and an annualized 3.8 percent for the month.

The Trimmed Mean PCE inflation rate is an alternative measure of core inflation in the price index for PCE. It is calculated by the Dallas Fed using data from the BEA.

Next release: July 28

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Media contact:
Jon Prior
Federal Reserve Bank of Dallas
Phone: 214-922-6857
Email: jon.prior@dal.frb.org