Arbeitspapier
A comprehensive evaluation of measures of core inflation for Canada: An update
We provide an updated evaluation of the value of various measures of core inflation that could be used in the conduct of monetary policy. We find that the Bank of Canada's current preferred measures of core inflation-CPI-trim, CPI-median and CPI-common-continue to outperform alternative core measures across a range of criteria. These measures remain less biased, less volatile and much more persistent relative to alternative core measures and CPI inflation. They are also still moving with the economic cycle. Our analysis shows that historical revisions have been relatively small among these three core inflation measures since their inception and that CPI-common seems less prone to revisions and sector-specific shocks than CPI-trim and CPI-median.
- Language
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Englisch
- Bibliographic citation
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Series: Bank of Canada Staff Discussion Paper ; No. 2019-9
- Classification
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Wirtschaft
Price Level; Inflation; Deflation
Monetary Policy
- Subject
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Inflation and prices
Monetary policy framework
- Event
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Geistige Schöpfung
- (who)
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Lao, Helen
Steyn, Ceciline
- Event
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Veröffentlichung
- (who)
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Bank of Canada
- (where)
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Ottawa
- (when)
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2019
- DOI
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doi:10.34989/sdp-2019-9
- Handle
- Last update
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10.03.2025, 11:45 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Lao, Helen
- Steyn, Ceciline
- Bank of Canada
Time of origin
- 2019
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