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. …

How much does quality adjustment matter in measuring consumer price inflation? To address this question, we use … inflation only by 0.06 percentage points, which is balanced out by an increase due to quantity adjustment (e.g. a smaller … deriving the distribution of member states’ cumulative inflation rates for typical quality-adjusted products. Our macro …

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 …

displayed by U.S. inflation data and discussing conceptual issues around measurement, we provide a unified framework to …We discuss the concept of core inflation and its relevance for policymakers and then review a variety of approaches …

(permanent change in the mean inflation rate). These datasets were used to test the performance of alternative underlying … inflation measures. We found that the benchmark underlying inflation measures (based on unobserved trend extraction) are more … underlying inflation measure …

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 …

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 …

We provide an updated evaluation of the value of various measures of core inflation that could be used in the conduct … of monetary policy. We find that the Bank of Canada's current preferred measures of core inflation-CPI-trim, CPI … biased, less volatile and much more persistent relative to alternative core measures and CPI inflation. They are also still …