Dollars and Jens
Friday, June 26, 2009
Trimmed-mean PCE is out. 1.3% (annual rate) for May.

On this measure, I tend to look at an exponential six-month average, which has just dipped below 2%, to 1.96%; the monthly figures have been lower than this for the last three months. This moving average hit 1.55% in 2003.

The trimmed-mean PCE deflator still isn't suggesting either (bad) inflation or deflation.

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