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 …

Inflation is usually measured using the Consumer Price Index (CPI) which is published by the National Statistical … that are centrally administered, it is not always possible to get a picture of the true trend of inflation from the CPI … considered as alternative measures of trend inflation. The indices considered are core inflation, i.e., CPI inflation excluding …

prices and quantities that national statistical institutes can use to produce more accurate, timely, measures of inflation … multilateral index number methods for computing month-to-month inflation. …

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 …

This paper examines a number of alternative PCE price inflation measures including overall PCE inflation, PCE inflation … excluding food and energy, trimmed mean PCE inflation, component-smoothed inflation, variance-weighted inflation, inflation with … weights based on disaggregated regressions, and survey measures of inflation expectations. When averaging across a handful of …

futures prices for U.S. core inflation. The proposed aggregator reduces the out-of-sample root mean squared error for 12-month …-ahead inflation forecasts of the benchmark AR(1) model by 28 percent (20 percent) for the PCE (CPI) measure of core inflation. To …

Issues of inflation measurement are fundamental to the conduct of monetary policy. Price indices form the foundation of … mechanism for holding independent policymakers accountable. To shed some light on the role of inflation measurement, the annual …: Price indices used by central banks; the role of wages and productivity in inflation policy; and the measurement and …

What are the implications of targeting different measures of inflation? We extend a basic theoretical framework of … optimal monetary policy under inflation targeting to include several components of CPI inflation ratio, and analyze the … implications of using different measures of inflation as target variable core inflation, CPI excluding interest rates, and headline …

Against the difficult background of analysing aggregated data in this paper core inflation in the euro area is … misleading indicator for monetary policy in the euro area. We furthermore compare our core inflation measure to the wide … coincident indicator of HICP inflation. Assessing the robustness of our core inflation measure we carefully conclude that it …