Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is one of 12 Reserve Banks that together with the Board of Governors in Washington DC and the Federal Open Market Committee (FOMC) comprise the Federal Reserve System, which was created by Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. As the US central bank, the Federal Reserve formulates and implements monetary policy—the actions undertaken by a central bank to influence the availability and cost of money and credit to help promote national economic goals—provides payment services to financial institutions and the US government, and supervises banking and other financial institutions.

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    • Median CPI in U.S. from Cleveland FED
      abril 2024
      Fuente: Federal Reserve Bank of Cleveland
      Subido por: Knoema
      Acceso el: 25 abril, 2024
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      The median CPI and the 16 percent trimmed-mean CPI based on data released in the Bureau of Labor Statistics’ monthly CPI report.Median CPI is the one-month inflation rate of the component whose expenditure weight is in the 50th percentile of price changes.16 percent trimmed-mean CPI is a weighted average of one-month inflation rates of components whose expenditure weights fall below the 92nd percentile and above the 8th percentile of price changes.Benefits: By omitting outliers (small and large price changes) and focusing on the interior of the distribution of price changes, the median CPI and the 16 percent trimmed-mean CPI can provide a better signal of the underlying inflation trend than either the all-items CPI or the CPI excluding food and energy (also known as core CPI).