Triple-Filter Core Inflation: A Measure of the Inflation Trajectory
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In countries with high inflation, as is the case of Brazil, the traditional cores inflation do not seem to deliver much information about the general level of prices. Therefore, we present a new measure, the TripleFilter core inflation, which filters inflation in three ways: trimmed mean with smoothed items, seasonal adjustment and moving averages. The results allow us to say that the TripleFilter core inflation, in addition to providing more information about the inflation trajectory than traditional core inflation, provides a more uptodate view on the state of inflation than the accumulated inflation over 12 months.