Joseph, Andreas; Kalamara, Eleni; Kapetanios, George; … - 2021
We forecast CPI inflation in the United Kingdom up to one year ahead using a large set of monthly disaggregated CPI … item series combined with a wide set of forecasting tools, including dimensionality reduction techniques, shrinkage methods … improvements in forecasting UK inflation against an autoregressive benchmark, above and beyond the gains from macroeconomic …