Sarb paper establishes new inflation measure

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A South African Reserve Bank working paper, published today (September 28), demonstrates a new method of measuring core inflation.

The measure uses singular spectrum analysis (SSA) – a technique of breaking down any time series into its components – that the paper said has only recently been applied to economic variables.

The authors, Franz Ruch and Dirk BesterIt, say SSA can "significantly reduce" the noise component of inflation caused by the temporary difference in prices produced by

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