Deviation of Instantaneous Inflation from Target

For CPI, CPI core, PCE deflator, PCE core deflator:

Figure 1: Instantaneous inflation (T=12,a=4) for CPI (blue), CPI core (sky blue), PCE deflator (light green), PCE core deflator (red), per Eeckhout (2023). NBER defined peak-to-trough recession dates shaded gray. Source: BLS, BEA, NBER and author’s calculations.

2 thoughts on “Deviation of Instantaneous Inflation from Target”

Moses Herzog January 3, 2024 at 8:44 pm

Where’s Larry Summers when you need him??
1. Macroduck January 4, 2024 at 9:53 am
  
  Need him?

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