The new inflation target of 2.5- 3.5% for 2007-2009 announced on 16 August will use the headline consumer price index (CPI) as its inflation target indicator instead of the core CPI, which does not include volatile energy and food prices.
The new target is numerically the same as the one for 2004-2006, but the change implies that the target has been reduced by around half a percentage point because core CPI
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- The Bank of Italy’s approach to risk-based budgeting
- Dudley backs floor-based system for setting monetary policy
- Asian Infrastructure Investment Bank – Raising expectations