Workshop 5: Core inflation measurement (IMF, Organised by IMF and CIS-STAT)
This workshop first overviews the thinking behind, measurement of, and criteria for selecting among, alternative measures of core inflation. Attention is then focused on the practical issues of credibility of core measures when food and energy absorb large proportions of household expenditure and the relationship between the central bank and national statistical offices (NSOs) in the design and execution of the measures. This is followed by presentations on practical issues in compilation and dissemination by an NSO and a central bank’s perspective that develops some of the issues in the overview. Sufficient time is made available for participant contributions of their country’s experience in light of the aforementioned issues.