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An obscure price tracker closely followed by economists also suggests inflation is slowing, but perhaps not quite as fast as the best-known indexes. The Dallas Federal Reserve’s “trimmed mean” inflation rate eased to 4.2% in the period running from June 2022 to June 2023 from 4.6% in the prior month.
That’s much higher than the 3% rate shown by the PCE index, the central bank’s favorite inflation gauge. And it’s a hair higher than the 4.1% core PCE rate produced by the government on Friday. Just what is a trimmed mean inflation rate? The Dallas Fed strips out goods and services that show the biggest ups and downs each month to give a better sense of underlying inflation trends. Sometimes t …
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