- Prior was +1.5% (revised to +1.6%)
- Six-month trimmed mean 2.6% vs 2.0% PCE
This is a one-month measure that's annualized. It's a popular measure from Fed officials and it runs against the narrative of inflation rapidly falling to target.
Prescription drug prices down 4.2% were cut from the mean while homes up 5.8% were also trimmed out. One of the bigger drivers to the upside that was kept in the index was in purchased means along with hotels.
