The Multivariate Core Trend (MCT) inflation, which measures inflation’s persistence across 17 core sectors of the personal consumption expenditures (PCE) price index, increased to 2.5% in July from 2.2% in June 202412. This model helps gauge whether inflation is short-lived or persistent and whether it is concentrated in a few sectors or broad-based.
Sources:
www.foxbusiness.com/economy/inflation-measure-closely-watched-fed-rises-2-5-july
www.newyorkfed.org/research/policy/mct
www.newyorkfed.org/newsevents/mediaadvisory/2023/0629-2023
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