More details on the decomposition procedure can be found in the appendix. -4continue to come in on the low side in coming years. 4 Some of the recent decline in inflation, although not all, reflects idiosyncratic shifts in the prices of some items, such as the large decline in telecommunication service prices seen earlier in the year, that are unlikely to be repeated.
As the green dashed line in figure 4 illustrates, if the average change in consumer prices each month is calculated excluding items whose price changes are outliers on both the high and low side, the resulting “trimmed mean” measure of inflation shows less of a slowdown this year.