International Measures of Common Inflation

Posted: 18 Nov 2021

See all articles by Danilo Cascaldi-Garcia

Danilo Cascaldi-Garcia

Board of Governors of the Federal Reserve System

Flora Haberkorn

Independent

Eli Nir

Independent

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

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

Danilo Cascaldi-Garcia (Contact Author)

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Flora Haberkorn

Independent

Eli Nir

Independent

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