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K-core inflation

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  • Alexander L. Wolman

Abstract

K-core inflation is a new class of underlying inflation measures. The two most popular measures of underlying inflation are core inflation and trimmed mean inflation. The former removes fixed categories of goods and services (food and energy) from the inflation calculation, and the latter removes fixed percentiles of the weighted distribution of price changes. In contrast, k-core inflation specifies a size of relative price change to be removed from the inflation calculation. Thus, the categories and percentiles to be removed vary with each period?s distribution of relative price changes.

Suggested Citation

  • Alexander L. Wolman, 2011. "K-core inflation," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 97(4Q), pages 415-430.
    • Handle: RePEc:fip:fedreq:y:2011:i:4q:p:415-430:n:v.97no.4
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    References listed on IDEAS

    as
    1. Robert J. Gordon, 1975. "Alternative Responses of Policy to External Supply Shocks," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 6(1), pages 183-206.
    2. Jim Dolmas, 2005. "Trimmed mean PCE inflation," Working Papers 0506, Federal Reserve Bank of Dallas.
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    Keywords

    Monetary policy; Inflation (Finance);

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