• Corpus ID: 251066884

How Robust are Robust Measures of PCE Inflation?

@inproceedings{Ocampo2022HowRA,
  title={How Robust are Robust Measures of PCE Inflation?},
  author={Sergio Pignuoli Ocampo and Raphael S. Schoenle and Dominic A. Smith},
  year={2022}
}
Time series data for robust inflation measures, such as median and trimmed mean inflation, only start in 1977. We extend these series back to 1960 for Personal Consumption Expenditure (PCE) inflation, providing additional episodes of high and rising inflation. We evaluate the robustness of the series along multiple dimensions: First, we find that robust inflation measures tend to diverge in periods of low inflation, but agree when headline inflation is high. The range between the robust measures… 

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