Cecchetti, Stephen; Bryan, Michael F.; II, Rodney L. Wiggins - National Bureau of Economic Research (NBER) - 1997
This paper investigates the use of trimmed means as high-frequency estimators of" inflation. The known characteristics … that simple averages of price data are" unlikely to produce efficient estimates of inflation. Trimmed means produce … superior estimates" of core inflation,' which we define as a long-run centered moving average of CPI and PPI" inflation. We …