- Six month annualized trimmed mean 2.9% vs 2.5% prior
- 12 month trimmed mean 3.2% vs 3.2% prior
This is a big jump in core inflation.
If you look at the major components, some of the deflationary stuff that was trimmed out was gasoline, used autos and jewelry.
While things that were inflationary and had big jumps included financial services charges and computer software.
Critically, the drivers that were included in the trimmed mean included ‘other purchased meals’ which has a heavy weighting and rose 5.27%. Beer prices also rose 6.8% at an annualized rate, which I think we all agree is a crime against humanity. Hospital services, dentists and rent were other drivers.