IDEAS home Printed from https://ideas.repec.org/a/bog/econbl/y2004i22p67-78.html
   My bibliography  Save this article

Alterative Measures of Inflation

Author

Listed:
  • Nikos P Karabalis

    () (Bank of Greece)

  • Euripides K. Kondelis

    () (Bank of Greece)

Abstract

Inflation is usually measured using the Consumer Price Index (CPI) which is published by the National Statistical Service of Greece. Due to the fact, however, that the CPI is strongly influenced by various exogenous factors or by factors that are centrally administered, it is not always possible to get a picture of the true trend of inflation from the CPI itself. In this article, a number of indices are studied. These indices are derived indirectly from the official CPI and are considered as alternative measures of trend inflation. The indices considered are core inflation, i.e., CPI inflation excluding fresh fruits, vegetables and fuels, the CPI excluding outliers, the Weighted Median, and the Trimmed Mean. The analysis and comparison of these indices suggests that the "best" index for measuring the true trend of inflation is core inflation.

Suggested Citation

  • Nikos P Karabalis & Euripides K. Kondelis, 2004. "Alterative Measures of Inflation," Economic Bulletin, Bank of Greece, issue 22, pages 67-78, January.
  • Handle: RePEc:bog:econbl:y:2004:i:22:p:67-78
    as

    Download full text from publisher

    File URL: http://www.bankofgreece.gr/BogEkdoseis/econbull200401.pdf
    Download Restriction: no

    More about this item

    Keywords

    Inflation Measures; Trend Inflation;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bog:econbl:y:2004:i:22:p:67-78. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christina Tsochatzi). General contact details of provider: http://edirc.repec.org/data/boggvgr.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.