A measure of core inflation in Bangladesh

Working paper

Shahiduzzaman, Md. 2006. A measure of core inflation in Bangladesh. Dhaka, Bangladesh. Bangladesh Bank.
Title

A measure of core inflation in Bangladesh

Report TypeWorking paper
Authors
AuthorShahiduzzaman, Md
Institution of OriginBangladesh Bank
Page Range1-36
Number of Pages36
SeriesWorking Paper
Year2006
PublisherBangladesh Bank
Place of PublicationDhaka, Bangladesh
Web Address (URL)http://www.bids-bd.org/BDS.php?FM=6&SM=75&TM=103&Page=BDS
Abstract

Core inflation refers to the persistent or general part of headline inflation that is free from temporary noise. The temporary noise parts are explained by the non-monetary events, such as sector specific shocks. It is argued that the trend in core inflation and not CPI should guide the formulation of monetary policy, and in providing policy accountability for the Central Banks. While it has now become a standard practice for most Central Banks around the world to monitor core inflation, no progress has so far been made in the Bangladesh context. This paper takes a pioneering look in measuring core inflation in Bangladesh, focusing on the popular exclusion and trimmed mean approaches. The performance criteria adopted in this study shows the superiority of trimmed mean measures over the exclusion measures of core inflation in Bangladesh.

Keywordsinflation; Bangladesh; exclusion method; trimmed mean
ANZSRC Field of Research 2020440499. Development studies not elsewhere classified
440703. Economic development policy
380107. Financial economics
Public Notes

Copyright © 2006 by Bangladesh Bank.

Byline AffiliationsBangladesh Bank, Bangladesh
Journal TitleThe Bangladesh Development Studies
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