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Trimmed Mean PCE Inflation Rate

The Trimmed Mean PCE inflation rate is an alternative measure of core inflation in the price index for personal consumption expenditures (PCE). It is calculated by staff at the Dallas Fed, using data from the Bureau of Economic Analysis (BEA).

December 2016

The Trimmed Mean PCE inflation rate for December was an annualized 1.8 percent. According to the BEA, the overall PCE inflation rate for December was 1.9 percent, annualized, while the inflation rate for PCE excluding food and energy was 1.3 percent.

The tables below present data on the Trimmed Mean PCE inflation rate and, for comparison, overall PCE inflation and the inflation rate for PCE excluding food and energy. The tables give annualized one-month, six-month and 12-month inflation rates.

One-month PCE inflation, annual rate

  Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16
PCE 0.6 1.9 2.6 3.1 0.6 1.9
PCE ex F&E 1.8 2.4 1.3 1.5 0.2 1.3
Trimmed mean 1.6 1.8 1.8 2.2 1.2 1.8

Six-month PCE inflation, annual rate

  Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16
PCE 1.3 1.8 2.1 1.9 1.7 1.8
PCE ex F&E 1.7 1.7 1.8 1.7 1.4 1.4
Trimmed mean 1.9 1.8 1.8 1.8 1.7 1.8

12-month PCE inflation

  Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16
PCE 0.9 1.0 1.2 1.4 1.4 1.6
PCE ex F&E 1.6 1.7 1.7 1.8 1.6 1.7
Trimmed mean 1.7 1.7 1.7 1.8 1.8 1.8
NOTE: These data are subject to revision.

The following chart plots the evolution of the distribution of price increases in the monthly component data over the past year. The chart shows the percentage of components each month, weighted by their shares in total spending, for which prices grew between 0 and 2 percent (at an annual rate); between 2 and 3 percent; between 3 and 5 percent; between 5 and 10 percent; and more than 10 percent.

Evolution of the distribution of component price increases

Related Publications and Resources

2017 Release Dates

  • March 1
  • March 31
  • May 1
  • May 30
  • June 30
  • Aug. 4
  • Aug. 31
  • Sept. 29
  • Oct. 30
  • Nov. 30
  • Dec. 22
More Information

To request additional data or for technical questions, e-mail Jim Dolmas.

Trimmed Mean PCE Inflation Rate
Trimmed Mean PCE
PCE Inflation Update