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Evaluation of Core Inflation Measures for Argentina

Mauricio Maximiliano Gómez Aguirre () and Constanza Matarrelli ()
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Mauricio Maximiliano Gómez Aguirre: Central Bank of Argentina
Constanza Matarrelli: Central Bank of Argentina

No 201773, BCRA Working Paper Series from Central Bank of Argentina, Economic Research Department

Abstract: In this paper, statistical measures of core inflation are calculated -including principal components method, truncated means method and persistence and volatility reweighted indeces- for the consumer price index (CPI) of Buenos Aires City, Córdoba and San Luis. Following the criteria that a good indicator must meet according to the literature, it is found that the core inflation measure calculated from the first main component is the best ranked for the City of Buenos Aires, while for San Luis and Córdoba the best relative performance it is displayed by the measure calculated from the 30% asymmetric truncated mean.

Keywords: inflation; core inflation; principal components; truncated averages (search for similar items in EconPapers)
JEL-codes: C13 E31 E52 E58 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2017-12
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Handle: RePEc:bcr:wpaper:201773