International Measures of Common Inflation
Posted: 18 Nov 2021
Date Written: November 1, 2021
Abstract
A key challenge for monetary policymakers in achieving their inflation goals—particularly important at the current juncture—is to be able to distinguish between persistent inflationary changes and short-term idiosyncratic shocks. The most common approach for filtering out short-term price shocks from inflation is to focus on measures of "core" inflation, traditionally defined as the change in the consumer price index (CPI) excluding food and energy prices.
Suggested Citation: Suggested Citation
Cascaldi-Garcia, Danilo and Haberkorn, Flora and Nir, Eli, International Measures of Common Inflation (November 1, 2021). FEDS Notes No. 2021-11-05-1, Available at SSRN: https://ssrn.com/abstract=3965186 or http://dx.doi.org/10.17016/2380-7172.3012
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