Data in this graph are copyrighted. Please review the copyright information in the series notes before sharing.
Source: Federal Reserve Bank of Cleveland
Release: Current Median CPI
Units: Percent Change at Annual Rate, Seasonally Adjusted
Frequency: Monthly
Median Consumer Price Index (CPI) is a measure of core inflation calculated the Federal Reserve Bank of Cleveland and the Ohio State University. Median CPI was created as a different way to get a 'Core CPI' measure, or a better measure of underlying inflation trends. To calculate the Median CPI, the Cleveland Fed analyzes the median price change of the goods and services published by the BLS. The median price change is the price change that's right in the middle of the long list of all of the price changes. This series excludes 49.5% of the CPI components with the highest and lowest one-month price changes from each tail of the price-change distribution resulting in a Median CPI Inflation Estimate.
According to research from the Cleveland Fed, the Median CPI provides a better signal of the inflation trend than either the all-items CPI or the CPI excluding food and energy. According to newer research done at the Cleveland Fed, the Median CPI is even better at PCE inflation in the near and longer term than the core PCE.
For further information, visit The Federal Reserve Bank of Cleveland.
Federal Reserve Bank of Cleveland, Median Consumer Price Index [MEDCPIM158SFRBCLE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MEDCPIM158SFRBCLE, May 17, 2024.
Source: U.S. Bureau of Labor Statistics
Release: Consumer Price Index
Units: Index 1982-1984=100, Seasonally Adjusted
Frequency: Monthly
The "Consumer Price Index for All Urban Consumers: All Items Less Food & Energy" is an aggregate of prices paid by urban consumers for a typical basket of goods, excluding food and energy. This measurement, known as "Core CPI," is widely used by economists because food and energy have very volatile prices. The Bureau of Labor Statistics defines and measures the official CPI, and more information can be found in the FAQ or in this article.
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items Less Food and Energy in U.S. City Average [CPILFESL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPILFESL, May 17, 2024.
Source: U.S. Bureau of Economic Analysis
Release: Gross Domestic Product
Units: Index 2017=100, Seasonally Adjusted
Frequency: Quarterly
BEA Account Code: A191RD
The number of decimal places reported varies over time. A Guide to the National Income and Product Accounts of the United States (NIPA).
U.S. Bureau of Economic Analysis, Gross Domestic Product: Implicit Price Deflator [GDPDEF], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDPDEF, May 17, 2024.
Median Consumer Price Index
Index Dec 1982=100, Monthly, Seasonally Adjusted Percent Change, Monthly, Seasonally Adjusted Percent Change from Year Ago, Monthly, Seasonally AdjustedConsumer Price Index for All Urban Consumers: All Items Less Food and Energy in U.S. City Average
Monthly, Not Seasonally Adjusted Semiannual, Not Seasonally AdjustedGross Domestic Product: Implicit Price Deflator
Percent Change from Preceding Period, Annual, Not Seasonally Adjusted Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual Rate