The New York Fed’s Underlying Inflation Gauge (UIG) is the hottest since 2006 at 3.14%.
The FRBNY’s Underlying Inflation Gauge captures sustained movements in inflation from information contained in a broad set of price, real activity, and financial data.
The “prices-only” UIG is only 2.23%. The “prices-only” underlying inflation gauge (UIG) is derived from a large number of disaggregated price series in the consumer price index (CPI) and is closer to core inflation.
Both are higher than Core PCE price YoY which is only 1.6% YoY.