The housing drag on core inflation

Stefano Eusepi, Bart Hobijn and Andrea Tambalotti

FRBSF Economic Letter, 2010, issue apr5

Abstract: Some analysts have raised the question of whether the unprecedented declines in house values, which have been the hallmark of the recent recession, might be artificially dampening core inflation readings. However, a close examination of recent inflation data shows that the weakness in housing costs is representative of a broad pattern of subdued price increases across most consumption goods and services and is not distorting the broad downward trend in core inflation measures.

Keywords: Price indexes; Housing; Inflation (Finance) (search for similar items in EconPapers)
Date: 2010
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