A broad set of inflation indicators suggests underlying price pressures are continuing to ease, offering the strongest evidence in years that inflation may be moving closer to the Federal Reserve's long-term target even as policymakers remain divided over the next move on interest rates.
Data released for June showed that several "trimmed mean" inflation gauges, which exclude unusually large price increases and declines to better capture underlying trends, fell to their lowest levels since the early years of the inflation surge that followed the pandemic. The figures come as Federal Reserve Chair Kevin Warsh has signaled he wants the central bank to broaden the range of metrics it uses when assessing inflation.
