Two Measures of Core Inflation: A Comparison

Jim Dolmas and Evan Koenig

Review, 2019, vol. 101, issue 4

Abstract: Trimmed-mean personal consumption expenditure (PCE) inflation does not clearly dominate PCE inflation excluding food and energy in real-time forecasting of headline PCE inflation. However, trimmed-mean inflation is the superior communications and policy tool because it has been a less-biased real-time estimator of headline inflation and because it more successfully filters out headline inflation?s transitory variation, leaving only cyclical and trend components.

JEL-codes: E31 E37 E52 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlrv:00123

DOI: 10.20955/r.101.245-58

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