Core inflation over the COVID-19 pandemic

Mikael Khan and Elyse Sullivan

No 2022-17, Staff Analytical Notes from Bank of Canada

Abstract: We assess the usefulness of various measures of core inflation over the COVID-19 pandemic. We find that Cpi-trim and CPI-median provided the best signal of underlying inflation. The favourable performance of these measures stems from their lack of reliance on historical experience, an especially valuable feature in unprecedented times.

Keywords: Econometric and statistical methods; Inflation and prices; Monetary policy (search for similar items in EconPapers)
JEL-codes: C18 E E3 E31 (search for similar items in EconPapers)
Date: 2022-11
New Economics Papers: this item is included in nep-ban, nep-cba and nep-mon
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