Supercore Services the Fed's favorite cut — services inflation ex-shelter, latest monthly BLS-derived reading (Aug 2026)
Supercore YoY (Aug 2026 BLS)
2.7%
latest BLS month, as of 2026-08-01 · no live source (0% coverage) — moves only on a CPI release
Headline macrogauge
3.2%
the full-basket gauge · as of 2026-10-02
Spread
−0.53pp
supercore minus headline — sticky-services pressure · supercore 2026-08-01 vs gauge 2026-10-02
Supercore YoY — since 2019, stepping with each BLS print
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Breadth across the whole basket
Breadth · above 2%
51%
of basket weight · 64% of components · Oct 2026
Accelerating
53%
of basket weight with YoY higher than 3 months earlier
Weighted median
2.1%
the component YoY at the middle of basket weight
16% trimmed mean
2.2%
Cleveland-style trim over our 14 coarse components
Latest-month breadth over all 14 components (full charts on the homepage) — context for whether services stickiness is broad or narrow.
Supercore vs its official reference — monthly, full history
Export data
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Month-end sampling of the daily series against BLS services less rent of shelter (CUUR0000SASL2RS) — the series supercore is graded on. Correlation 0.9371, mean absolute gap 0.7pp over 2018-01..2026-08. The six coarse components still carry goods (drugs, computers, TVs; furnishings and tobacco inside the CPI residual), so the approximation runs below the BLS services series. The gap is disclosed, not tuned away.
Methodology
Weighted average of six components — medical care, education & communication, recreation, electricity, utility gas and the CPI residual (everything outside the 13 named components, about 45% of the cut) — with weights renormalized; excludes shelter, food, gasoline, apparel and vehicles (config: supercore_components in basket.json). It approximates BLS “services less rent of shelter” and is graded against it; like that series, and unlike the market “supercore”, it includes energy services. Why it matters: goods prices swing with supply chains and energy with OPEC — services ex-shelter is the wage-driven core the Fed watches to judge whether inflation is entrenched. See methodology for validation stats.