Triple-Filter core inflation: a measure of the inflation trajectory

Autores

Palavras-chave:

CPI, core inflation, smoothed trimmed mean, moving average, seasonal adjustment

Resumo

In countries with high inflation, as is the case of Brazil, the traditional cores inflation do not seem to deliver much information about the general level of prices. Therefore, we present a new measure, the Triple-Filter core inflation, which filters inflation in three ways: trimmed mean with smoothed items, seasonal adjustment and moving averages. The results allow us to say that the Triple-Filter core inflation, in addition to providing more information about the inflation trajectory than traditional core inflation, provides a more up-to-date view on the state of inflation than the accumulated inflation over 12 months.

Biografia do Autor

Pedro Costa Ferreira, Instituto Brasileiro de Economia (IBRE - FGV)

Núcleo de Métodos Estatísticos e Computacionais, (SUEP/IBRE | FGV)

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Publicado

2017-12-22

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