期刊名称：Federal Reserve Bank of St. Louis - Regional Economist
出版年度：2014
出版社：Federal Reserve Bank of St. Louis
摘要：F or most central banks, maintaining inflat ion close to an explicit or implicit inflation target is a matter for t he mediu m and long term. Therefore, it is not unusual to observe periods of inflation above t arget, fol- lowed by period s of inflation below target. In the past year, perhaps temporarily, several economies have experienced infla- tion below 2 percent (a common inflation target), whether inflation is measured by the consumer price index (CPI) year-over- yea r growth rate (as used by the U.S. federa l government, Japan and the euro area, as well as by several smaller advanced economies) or the persona l consumption expenditu res (PCE) chain-type price index grow th rate (used in the United St ates by the Federal Reserve). However, inflation has been trend- ing quite differently in various economies— up in Japan, down in Europe and relatively stable in t he United States (but a bit below the Fed's 2 percent target). In t his article, we decompose and analyze CPI inflat ion rates as recorded for their main components in April 2014. We used t he CPI measure to improve comparabilit y across countries, although several important differences across mea- sures remain
