Triple-Filter core inflation: a measure of the inflation trajectory

Pedro Costa Ferreira, Daiane Marcolino de Mattos and Vagner Laerte Ardeo

Revista Brasileira de Economia - RBE, 2017, vol. 71, issue 4

Abstract: In countries with high inflation, as is the case of Brazil, the traditional cores inflation do not seem to deliver much information about the general level of prices. Therefore, we present a new measure, the Triple-Filter core inflation, which filters inflation in three ways: trimmed mean with smoothed items, seasonal adjustment and moving averages. The results allow us to say that the Triple-Filter core inflation, in addition to providing more information about the inflation trajectory than traditional core inflation, provides a more up-to-date view on the state of inflation than the accumulated inflation over 12 months.

Date: 2017
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