Dallas Fed November trimmed mean +2.4% vs +1.6%

Core inflation tracker from the Dallas Fed

Note that these are annualized numbers, which is a unique way to report on inflation

• PCE +0.7% vs +2.4%

• Core PCE +1.8% vs +1.4%

• Trimmed mean +2.4% vs 1.6% prior

The drop in gasoline prices makes it no surprise that headline inflation fell but core is sending a different signal.