Dallas Fed April trimmed mean #PCE price index +4.4% v +3.8% prior y/y
– Core PCE ex food & energy 4.7% y/y
“What you see in real time is closer to what you get after revision than is the case with the more conventional measure of core inflation, PCE excluding food and energy”
Compared with ex-food-and-energy PCE inflation, the trimmed mean is subject to smaller revisions on average and, in particular, is less prone to very large revisions. The accuracy of real-time signals is likely to be important during monetary policy deliberations.