The Dallas Fed Trimmed Mean PCE price index was releases and it came in at +1.4% vs 2.7% last month. What is the difference between the Trimmed Mean PCE and headline PCE seen earlier? The Dallas Fed Trimmed Mean PCE Inflation Rate is an alternative measure of inflation designed to filter out the "noise" from unusually large price moves and provide a better picture of the underlying inflation trend. The Dallas Fed's trimmed mean attempts to answer:"What is inflation doing beneath all the temporary volatility?" Dallas Fed Trimmed Mean PCE often provides the clearest view of underlying inflation momentum and is closely watched by many Fed officials when assessing whether inflation pressures are becoming persistent.