Underlying inflation measures: an analytical guide for the euro area

Marta Banbura, Elena Bobeica, Katalin Bodnár, Bruno Fagandini, Peter Healy and Joan Paredes

Economic Bulletin Boxes, 2023, vol. 5

Abstract: This box describes some key measures of underlying inflation and reassesses their predictive power for euro area headline inflation over a medium-term horizon. It discusses recent developments in underlying inflation and implications for the inflation outlook. It examines how underlying inflation measures can be adjusted to filter out some of the recent extraordinary shocks to inflation. Lastly, it analyses goods and services inflation individually. JEL Classification: C52, E31, E52

Keywords: core inflation; inflation forecasting; Underlying inflation (search for similar items in EconPapers)
Date: 2023-08
Note: 810771
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