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Relating commodity prices to underlying inflation: the role of expectations

Davis, J. Scott - In: Economic Letter 6 (2011)

headline inflation rate. ; Because central bank anti-inflation measures sometimes take a long time to affect prices … adjusted). In fact, the mandate of many inflation-targeting central banks is to aim to keep headline inflation at a certain …-targeting central bank doesn’t aim to contain short-run headline inflation fluctuations. …

Persistent link: https://www.econbiz.de/10009416014

Fast micro and slow macro: can aggregation explain the persistence of inflation?

Altissimo, Filippo; Mojon, Benoît; Zaffaroni, Paolo - Federal Reserve Bank of Chicago - 2007

An aggregation exercise is proposed that aims at investigating whether the fast average adjustment of the disaggregate inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a dynamic factor model for 404 inflation...

Persistent link: https://www.econbiz.de/10005419959

Forecasting inflation? Target the middle

Meyer, Brent; Venkatu, Guhan; Zaman, Saeed - In: Economic Commentary (2013) Apr

The Median CPI is well-known as an accurate predictor of future infl ation. But it’s just one of many possible trimmed-mean inflation measures. Recent research compares these types of measures to see which tracks future inflation best. Not only does the Median CPI outperform other trims in...

Persistent link: https://www.econbiz.de/10011234946

The commodity-consumer price connection: fact or fable?

Blomberg, S. Brock; Harris, Ethan S. - In: Economic Policy Review (1995) Oct, pp. 21-38

The recent surge in commodity prices has rekindled interest in their power to predict consumer price inflation. But is this interest warranted? In examining the empirical relationship between commodity prices and consumer price inflation, this article finds that commodities' reputation as useful...

Persistent link: https://www.econbiz.de/10008621666

The inflation issue

In: Forefront (2011) Spr, pp. 1-1

the adoption of a numerical target for inflation may improve the central bank’s ability to achieve both objectives. …

Persistent link: https://www.econbiz.de/10009024037

What are the implications of rising commodity prices for inflation and monetary policy?

Evans, Charles; Fisher, Jonas D. M. - In: Chicago Fed Letter (2011) May

The recent run-ups in oil and other commodity prices and their implications for inflation and monetary policy have grabbed the attention of many commentators in the media. Clearly, higher prices of food and energy end up in the broadest measures of consumer price inflation, such as the Consumer...

Persistent link: https://www.econbiz.de/10009024089

Improving the measurement of inflation expectations

Potter, Simon M. - Federal Reserve Bank of New York - 2012

Remarks at the Barclays 16th Annual Global Inflation-Linked Conference, New York City.

Persistent link: https://www.econbiz.de/10010725025

Trimmed-mean inflation statistics: just hit the one in the middle

Meyer, Brent; Venkatu, Guhan - Federal Reserve Bank of Cleveland - 2012

This paper reinvestigates the performance of trimmed-mean inflation measures some 20 years since their inception, asking whether there is a particular trimmed mean measure that dominates the median CPI. Unlike previous research, we evaluate the performance of symmetric and asymmetric...

Persistent link: https://www.econbiz.de/10011133748

Do rising rents complicate inflation assessment?

Meyer, Brent - In: Economic Commentary (2012) Feb 23

In the face of falling house prices, decreasing rates of homeownership, and a glut of vacant homes, the Consumer Price Index’s measure of the cost of owner-occupied housing—owners’ equivalent rent of residence (OER)—has begun to accelerate, rising at an annualized rate of 2.3 percent...

Persistent link: https://www.econbiz.de/10010551192

Improving the measurement of inflation expectations

Potter, Simon M. - In: Speech (2012) June 7

Remarks at the Barclays 16th Annual Global Inflation-Linked Conference, New York City.

Persistent link: https://www.econbiz.de/10010552100