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- Title
Core inflation: a critical guide.
- Authors
Mankikar, Alan; Paisley, Jo
- Abstract
This article examines a range of measures of core inflation for the United Kingdom, setting out their motivation and highlighting their potential limitations. The term "core inflation" is widely used by academics and central bankers. But despite its prevalence, there is neither a commonly accepted theoretical definition nor an agreed method of measuring it. Some researchers, for example, have suggested that core inflation relates to the growth rate of the money supply. Others identify core inflation with the "durable" part of inflation, while others define the term as that component of measured inflation that has no medium to long-run impact on real output.
- Subjects
UNITED Kingdom; PRICE inflation; ECONOMIC policy; BANKING industry; INVESTORS; FINANCIAL performance; MONEY supply
- Publication
Bank of England Quarterly Bulletin, 2004, Vol 44, Issue 4, p466
- ISSN
0005-5166
- Publication type
Article