This highlights the concentration in price rises
- Prior was 3.1%
- Six month PCE trimmed mean 2.6%
- 12-month PCE trimmed mean 2.0%
This month's release cut hotels and motels, which are a 0.63 weighting in the PCE report and were down 33.2% at an annualized rate in August due to covid. Used truck prices also fell 12.5% and were trimmed.
On the upside, air transport was cut as it rose at a 90.9% annualized rate.
Here's a look at some of the items driving the upside in inflation: