Core Inflation Measurement Techniques: Methods, Data, and Policy Applications Training Course

Introduction

Core inflation measurement is essential for distinguishing long-term price trends from temporary shocks, providing policymakers, analysts, and businesses with a clearer picture of underlying inflation dynamics. By excluding volatile components such as food and energy, core inflation offers valuable insights into monetary policy effectiveness, wage setting, and strategic business planning. This training course equips participants with advanced skills to understand, design, and apply different methods for measuring core inflation in both advanced and emerging economies.

The Core Inflation Measurement Techniques: Methods, Data, and Policy Applications Training Course blends theory with practice, using real-world case studies, international guidelines, and applied exercises. Participants will gain hands-on experience in statistical techniques, explore the role of data quality, and assess the strengths and weaknesses of various core inflation measures. The course empowers professionals to interpret inflation trends more accurately and support evidence-based decision-making in today’s complex economic environment.

Duration: 10 Days

Target Audience:

  • Central bank economists and monetary policy professionals
  • National statistics office staff and price statisticians
  • Government policy advisors in finance and planning
  • Financial market analysts and investment strategists
  • Academic researchers and graduate students in economics
  • Development finance and international organization specialists

Course Objectives:

  1. Understand the concept and importance of core inflation
  2. Explore different methodologies for core inflation measurement
  3. Distinguish between headline and core inflation trends
  4. Evaluate the strengths and limitations of alternative measures
  5. Learn how core inflation informs monetary policy decisions
  6. Strengthen skills in data collection, processing, and validation
  7. Analyze international best practices and case studies
  8. Use statistical and econometric techniques for measurement
  9. Communicate core inflation findings to stakeholders effectively
  10. Apply core inflation analysis in forecasting and policy simulations

Course Modules:

Module 1: Introduction to Core Inflation

  • Definition and purpose of core inflation
  • Difference between headline and core measures
  • Role in inflation analysis and policy
  • Historical evolution of the concept
  • International perspectives

Module 2: Theoretical Framework of Core Inflation

  • Economic rationale for core inflation
  • Short-term shocks versus long-term trends
  • Relationship with monetary stability
  • Inflation persistence and expectations
  • Conceptual challenges

Module 3: Exclusion-Based Measures

  • Food and energy exclusion approaches
  • Advantages and drawbacks
  • International examples
  • Policy relevance of exclusion indices
  • Case studies

Module 4: Trimmed Mean and Weighted Median Methods

  • Statistical underpinnings
  • Calculating trimmed mean inflation
  • Weighted median approaches
  • Comparisons with headline inflation
  • Applications in central banking

Module 5: Volatility-Weighted and Persistence-Weighted Measures

  • Identifying volatile components
  • Persistence analysis techniques
  • Weighting schemes for robustness
  • Empirical applications
  • Evaluation of effectiveness

Module 6: Econometric Approaches to Core Inflation

  • Time series modeling
  • State-space and Kalman filter techniques
  • ARIMA and VAR applications
  • Structural modeling approaches
  • Empirical testing methods

Module 7: CPI Components and Core Inflation

  • Identifying relevant CPI subgroups
  • Sectoral contributions to core inflation
  • Challenges in emerging markets
  • Case illustrations from global practice
  • Comparisons across countries

Module 8: Data Collection and Processing for Core Inflation

  • Sources of price data
  • Frequency and coverage issues
  • Data cleaning and validation
  • Outlier detection and adjustment
  • Statistical software applications

Module 9: Communication of Core Inflation Results

  • Presenting results to policymakers
  • Designing effective reports and dashboards
  • Transparency and credibility in reporting
  • Media engagement strategies
  • Reaching diverse stakeholders

Module 10: Core Inflation in Monetary Policy Frameworks

  • Inflation targeting regimes
  • Policy rules and core inflation
  • Role in setting interest rates
  • Credibility and public trust
  • Comparative case studies

Module 11: Core Inflation and Forecasting

  • Forecasting models incorporating core inflation
  • Role in medium-term projections
  • Scenario analysis
  • Communication of forecasts
  • Best practices from central banks

Module 12: Case Studies of Core Inflation Measures

  • US Federal Reserve approaches
  • European Central Bank methodology
  • Practices in Asian economies
  • Lessons from Latin America
  • Comparative insights

Module 13: Challenges in Measuring Core Inflation

  • Data limitations and revisions
  • Structural changes in economies
  • Volatility in emerging markets
  • Political pressures and credibility
  • Addressing public skepticism

Module 14: Emerging Trends in Core Inflation Measurement

  • Impact of digitalization and e-commerce
  • Role of big data and real-time indicators
  • Global supply chain disruptions
  • Climate change and energy transitions
  • Future methodological innovations

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport Pick Up is provided by the institute. Accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

For More Details call: +254-114-087-180

 

 

Core Inflation Measurement Techniques: Methods, Data, And Policy Applications Training Course in North Macedonia
Dates Fees Location Action