Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/302213 
Year of Publication: 
2024
Series/Report no.: 
Staff Reports No. 1115
Publisher: 
Federal Reserve Bank of New York, New York, NY
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.
Subjects: 
inflation
core inflation
JEL: 
E31
E32
E52
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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