June 2026: the same month, in opposite directions
Source. BLS CPI release for June 2026, published July 14, 2026; Federal Reserve Bank of Cleveland median and trimmed-mean CPI for June 2026.
Method and data
Method. The trimmed-mean and median figures are calculated by the firm from the Cleveland Fed’s published monthly changes for June 2026 (trimmed mean 0.0106%, median 0.1741%) as (1+m)12−1. The CPI-U and core figures are annualized by the firm from BLS’s published seasonally adjusted index levels as (June/May)12−1: CPI-U (CUSR0000SA0) 333.979 in May to 332.568 in June 2026, core (CUSR0000SA0L1E) 336.121 to 336.065. BLS publishes these index levels, so the annualized values do not carry the rounding of the one-decimal monthly rates (−0.4% and 0.0%).
| Measure | One-month change, annual rate, % |
|---|---|
| CPI-U, all items | −4.95 |
| Core CPI | −0.2 |
| Trimmed-mean CPI | 0.13 |
| Median CPI | 2.11 |
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Higgins Strategy. “June 2026: the same month, in opposite directions” Exhibit 2, Which Inflation? (Study I). October 12, 2026. https://higginsstrategy.com/charts/e1-2-june-2026-annualised/