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Core inflation over the COVID-19 pandemic

Author

Listed:
  • Mikael Khan
  • Elyse Sullivan

Abstract

We assess the usefulness of various measures of core inflation over the COVID-19 pandemic. We find that Cpi-trim and CPI-median provided the best signal of underlying inflation. The favourable performance of these measures stems from their lack of reliance on historical experience, an especially valuable feature in unprecedented times.

Suggested Citation

  • Mikael Khan & Elyse Sullivan, 2022. "Core inflation over the COVID-19 pandemic," Staff Analytical Notes 2022-17, Bank of Canada.
    • Handle: RePEc:bca:bocsan:22-17
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    File URL: https://www.bankofcanada.ca/2022/11/staff-analytical-note-2022-17/
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    Cited by:

    1. Carlomagno, Guillermo & Fornero, Jorge & Sansone, Andrés, 2023. "A proposal for constructing and evaluating core inflation measures," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(3).

    More about this item

    Keywords

    Econometric and statistical methods; Inflation and prices; Monetary policy;
    All these keywords.

    JEL classification:

    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • E - Macroeconomics and Monetary Economics
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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