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:

    “Anything in history or nature that can be described as changing steadily can be seen as heading toward catastrophe.”
    —Susan Sontag (b. 1933)

    “The history of this country was made largely by people who wanted to be left alone. Those who could not thrive when left to themselves never felt at ease in America.”
    —Eric Hoffer (1902–1983)

    “Boys forget what their country means by just reading “the land of the free” in history books. Then they get to be men, they forget even more. Liberty’s too precious a thing to be buried in books.”
    —Sidney Buchman (1902–1975)