Methods Explained
Graeme Chamberlin
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Graeme Chamberlin: Office for National Statistics
Economic & Labour Market Review, 2009, vol. 3, issue 3, 48-57
Abstract:
Core inflation attempts to capture the underlying inflationary pressures in the economy by excluding or down-weighting the more erratic and transitory components of consumer prices indices. Recent volatility in food and energy prices, along with the monetary policy regime of inflation targeting, has increased interest in these measures. However, the Office for National Statistics does not produce estimates of core inflation and neither does the Bank of England target them. This article outlines several ways in which core inflation can be calculated and discusses the issues and judgements involved. Economic & Labour Market Review (2009) 3, 48–57; doi:10.1057/elmr.2009.45
Date: 2009
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