BIS paper with New York Fed unveils new measure of underlying inflation
Measure draws on wide data set including asset prices and real variables
The Bank for International Settlements (BIS) has unveiled a new measure for underlying inflation that combines a wide range of data in real-time, in a working paper authored by economists from Basel and New York.
In the paper, Marlene Amstad of the BIS and Simon Potter and Robert Rich of the New York Fed present an ‘underlying inflation gauge' that summarises the information contained in a wide data set – including asset prices and real variables – in a single number.
The paper – The FRBNY Staff
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