What Is Trend Inflation?

Thomas Lubik

Richmond Fed Economic Brief, 2026, vol. 26, issue 11

Abstract: I discuss three models of trend inflation that deliver strikingly different estimates of the trend. I argue that the concept of trend inflation is largely model and context dependent. Current estimates of trend inflation show no clear pattern about price pressures.

Keywords: Inflation; R* (search for similar items in EconPapers)
Date: 2026
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