This paper investigates the use of trimmed means as high-frequency estimators of" inflation. The known characteristics … that simple averages of price data are" unlikely to produce efficient estimates of inflation. Trimmed means produce … superior estimates" of core inflation,' which we define as a long-run centered moving average of CPI and PPI" inflation. We …

introduction of new goods (or the disappearance of existing goods). In this paper I explain the theory of cost-of-living indices … and demonstrate how new goods should be included using the classical theory of Hicks and Rothbarth. The correct price to … use for the good in the pre-intro- duction period is a `virtual' price which sets demand to zero. Estimation of this …

2017 to shed light on how online inflation compares to overall inflation, and to gauge the magnitude of new product bias … online. The Adobe data contain transaction prices and quantities purchased. We estimate that online inflation was about 1 … online, implies roughly 2 percentage points lower inflation than in a matched model/CPI-style index …

Inflation equals the product of two terms: an extensive margin (the fraction of items with price changes) and an … intensive margin (the average size of those price changes). The variance of inflation over time can be decomposed into … intensive margin is the sole source of inflation changes in staggered time-dependent pricing models. We use micro data collected …

consumer price inflation rate …