Measurement and Theory of Core Inflation

Martin Almuzara and Argia Sbordone

No 1115, Staff Reports from Federal Reserve Bank of New York

Abstract: We discuss the concept of core inflation and its relevance for policymakers and then review a variety of approaches that have been pursued for the construction of informative core measures. After illustrating some empirical patterns displayed by U.S. inflation data and discussing conceptual issues around measurement, we provide a unified framework to interpret various widely used core measures and compare their relative properties.

Keywords: inflation; core inflation (search for similar items in EconPapers)
JEL-codes: E31 E32 E52 (search for similar items in EconPapers)
Pages: 29
Date: 2024-08-01
New Economics Papers: this item is included in nep-cba and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fednsr:98692

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DOI: 10.59576/sr.1115

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