Core Inflation - History

History

The concept of core inflation as aggregate price growth excluding food and energy was introduced in a 1975 paper by Robert J. Gordon. This is the definition of "core inflation" most used for political purposes. Core inflation was also developed and advocated by Otto Eckstein, in (Eckstein 1981).

Read more about this topic:  Core Inflation

Famous quotes containing the word history:

    The history of all Magazines shows plainly that those which have attained celebrity were indebted for it to articles similar in natureto Berenice—although, I grant you, far superior in style and execution. I say similar in nature. You ask me in what does this nature consist? In the ludicrous heightened into the grotesque: the fearful coloured into the horrible: the witty exaggerated into the burlesque: the singular wrought out into the strange and mystical.
    Edgar Allan Poe (1809–1849)

    There is a history in all men’s lives,
    Figuring the natures of the times deceased,
    The which observed, a man may prophesy,
    With a near aim, of the main chance of things
    As yet not come to life.
    William Shakespeare (1564–1616)

    It gives me the greatest pleasure to say, as I do from the bottom of my heart, that never in the history of the country, in any crisis and under any conditions, have our Jewish fellow citizens failed to live up to the highest standards of citizenship and patriotism.
    William Howard Taft (1857–1930)