The University of Southampton
University of Southampton Institutional Repository

A measure of core inflation in the UK

Andrade, Isabel and O'Brien, Raymond (2007) A measure of core inflation in the UK , Southampton, UK University of Southampton 32pp. (Discussion Papers in Economics and Econometrics, 708).

Record type: Monograph (Discussion Paper)


We develop a measure of core inflation in the UK over the period January 1987 - December 1998, following the work of Bryan, Cecchetti, Wiggins and Roger. Disaggregation is into 85 price categories. Given the high kurtosis of the price change distribution over this period, a trimmed mean is a more robust estimator of core inflation than other published measures such as the RPIX widely used in the UK, in particular by the Bank of England when targeting inflation. We discuss the relative advantages of our measure of core inflation, with emphasis on the determination of an optimal trimming point and on the analysis of the products whose price changes are excluded from our measure in each time period. The resulting measure appears well behaved, but differs noticeably from a number of published measures.

PDF 0708.pdf - Version of Record
Restricted to Repository staff only
Download (263kB)

More information

Published date: 18 September 2007
Additional Information: Working paper: accepted subject to revision


Local EPrints ID: 35209
ISSN: 0966-4246
PURE UUID: d4ba730b-2c2f-47ba-a89b-3404d7756f22

Catalogue record

Date deposited: 16 Jun 2006
Last modified: 17 Jul 2017 15:48

Export record


Author: Isabel Andrade
Author: Raymond O'Brien

University divisions

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton:

ePrints Soton supports OAI 2.0 with a base URL of

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.