This paper evaluates the usefulness of various measures of core inflation for the conduct of monetary policy …. Traditional exclusion-based measures of core inflation are found to perform relatively poorly across a range of evaluation … move with macroeconomic drivers. All measures of core inflation, however, have limitations - consequently, there is merit …

Two strands of the literature suggest that PPI inflation, rather than CPI inflation, should be the targeting variable … in a monetary policy rule. The distinction between these two rules would only be important if the two inflation indices … do not co-move strongly. The first contribution of this paper is to document that the two inflation gauges did co …

time so that inflation measurement is not significantly affected. In addition, we find evidence that the typical practice … estimates of inflation. We use high-frequency scanner data from US supermarkets to explore if there is any systematic …

well as the improvements made to this measure of inflation since 2003 – finds that the HICP continues to fulfil the … replacement and quality adjustment. Such measures may also help reduce the measurement bias that still exists in the HICP. Overall …, a knowledge gap concerning the exact size of the measurement bias of the HICP remains, which calls for further research …

In this paper, the authors propose a measure of underlying inflation for Canada obtained from estimating a monthly … distort the signal in many other measures of underlying inflation, and appears to capture price movements that are indicative … measures of underlying inflation monitored by the Bank of Canada. …