March inflation annualized on the trimmed mean was 3.4%, according to the Dallas Fed measure. That's down from 4.6% in February. The 12-month trimmed mean was 4.7, unchanged from Feb.
Some of the drags that were excluded were:
- Auto rentals
- Fruit
- Eggs
- Used trucks
- Gasoline
Some of the high numbers excluded:
- Hotels
- Child care
- Motor vehicle leasing
- Hospital services
Some notable numbers included in the trimmed mean:
- Owner occupied homes +6.0% (this is 11% of the PCE index)
- Vehicle maintenance and repair +4.0%
- Prescription drugs +1.7%
- Physician services +1.1%
I find it notable (and tough to explain) that the single highest boost in the PCE report was motor vehicle leasing up 46.9% m/m annualized while auto rentals down 36.9% m/m were the 7th largest drag.
