The median consumer price index, as calculated by the Federal Reserve Bank of Cleveland, was up 0.2% in January after a 0.1% increase in December.

The median CPI in January rose at a 2.7% annual rate.

The 16% trimmed mean CPI was up 0.2% in January after a 0.1% gain in December. Year over year, the trimmed mean CPI was up 2.5% in the month.

The median CPI trims out all but the midpoint of the distribution of price chances, while the trimmed mean removes from the overall CPI all large relative price changes in each month, with the set of excluded components changing monthly.

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