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The Importance of Underlying Inflation in Today's Atypical Environment
Underlying inflation is all about trying to assess what will have a lasting impact on prices once the dust of any shocks, like the ones we've been seeing, settles. The ECP has just published a box as part of its economic bulletin that looks at how useful a measure underlying inflation is these days. What's your view on this? Is underlying inflation still a useful measurement in today's rather atypical environment?