Measurement and theory of core inflation

We discuss the concept of core inflation and its relevance for policymakers and then review a variety of approaches that have been pursued for the construction of informative core measures. After illustrating some empirical patterns displayed by U.S. inflation data and discussing conceptual issues around measurement, we provide a unified framework to interpret various widely used core measures and compare their relative properties.

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Year of publication:	2024
Authors:	Almuzara, Martin ; Sbordone, Argia M.
Publisher:	New York, NY : Federal Reserve Bank of New York
Subject:	inflation \| core inflation

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Series:	Staff Reports ; 1115
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	10.59576/sr.1115 [DOI] 1900829363 [GVK]
Classification:	E31 - Price Level; Inflation; Deflation ; E32 - Business Fluctuations; Cycles ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	EconStor

Persistent link: https://www.econbiz.de/10015054236