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- Title
A NOTE ON THE TRIMMED MEAN MEASURE OF CORE INFLATION IN SOUTH AFRICA.
- Authors
Blignaut, Zelda; Farrell, Greg; Munyama, Victor; Rangasamy, Logan
- Abstract
This paper constructs and analyses the properties of a trimmed mean inflation rate for South Africa. Based on an analysis of the distributions of the consumer price index component price changes, a measure is constructed that provides an estimator of core inflation, which may be particularly useful to policymakers in an inflation-targeting environment. The trimmed mean estimator focuses on the price movements of individual components that have a strong bearing on the current and future trend of the headline inflation rate, allowing monetary policy to be directed at the persistent or underlying sources of inflationary pressures.
- Subjects
SOUTH Africa; CORE &; periphery (Economic theory); MATHEMATICAL models of inflation; MEAN field theory; CONSUMER price indexes; MARKET volatility
- Publication
South African Journal of Economics, 2009, Vol 77, Issue 4, p538
- ISSN
0038-2280
- Publication type
Article
- DOI
10.1111/j.1813-6982.2009.01230.x