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RBA CPI Measures Trimmed Mean QoQ SA

As of 12:00 AM EST 12/31/2016
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This concept attempts to measure underlying inflation trends by removing volatile items (similar to "core" CPI). This can be done by removing the items with the largest price increases and decreases (trimmed-mean) or by taking the inflation rate of the median (or middle) CPI component (as opposed to an overall average). The RBA's trimmed mean CPI is calculated by ordering all the CPI components by their price change in the quarter and taking the expenditure-weighted average of the middle 70 per cent of these price changes.