Median & trimmed-mean CPI tell a similar story to core--all show underlying inflation was slower in July than it was in the last few months. Median slowed a bit less than in core, because core's slowdown was helped by unusually large declines in hotels, air, & used cars.
Here is trimmed mean. It shows a commensurate decline as core inflation.
Median and trimmed mean are running ahead of core over the last three months and over the last twelve months. Consistent with the broadening of inflation and becoming more inertial.
The median and trimmed mean inflation is from the Cleveland Fed. They are intended as inertial measures of inflation. Instead of excluding food and energy (as core does), they exclude the extreme increases/decreases.
clevelandfed.org
clevelandfed.org
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