Inflation is typically measured using aggregate price indices that are based on bundles of goods and services sold or consumed by the "median” agent. In the case of households, in particular, budget shares vary substantially across income and demographic groups. Assessing how inflation behaves...

The growing adoption of an inflation targeting framework in emerging market economies has increased the importance of understanding inflation dynamics and forecasting its future path in these countries. The author considers the case of Turkey and investigates the performance of models that have...