, robust measures of central tendency are likely to outperform the mean or standard measures of “core” inflation as indicators … of generalized inflation. The analysis also supports the use of geometric averaging in CPI construction and the targeting … of the geometric mean inflation rate rather than the Laspeyres mean …

This paper provides an overview of statistical measurement issues relating to alternative measures of core inflation …, and the criteria for choosing among them. The approaches to measurement considered include exclusion-based methods …

In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize … is high. We develop an open economy model with incomplete financial markets to show that headline inflation targeting … headline inflation, assigns zero weight to import prices …

Food prices are generally excluded from measures of inflation most closely watched by policymakers due either to their … transitory nature or their higher volatility. However, in lower income countries, food price inflation is not only more volatile … but also on average higher than nonfood inflation. Food inflation is also in many cases more persistent than nonfood …

There is an extensive literature noting that high inflation can add to income inequality, and a parallel literature … assessing the effect of rising food prices on the poor. This paper attempts to combine these strands by dividing inflation into … food and nonfood inflation and assessing whether food inflation affects income inequality differently from nonfood …

Food prices are generally excluded from measures of inflation most closely watched by policymakers due either to their … transitory nature or their higher volatility. However, in lower income countries, food price inflation is not only more volatile … but also on average higher than nonfood inflation. Food inflation is also in many cases more persistent than nonfood …

This paper develops an approach for forecasting in Thailand core inflation. The key innovation is to anchor the … projections derived from the short-term time-series properties of core inflation to its longer-run evolution. This involves … goodness-of-fit criteria, with an equilibrium-correction model that pins down the convergence of core inflation to its longer …

Intuitively core inflation is understood as a measure of inflation where noisy price movements are avoided. This is … discarded. Therefore, we propose a new type of core inflation measure, one that takes simultaneously into account both …