4  BIS Review 74/2008  various measures of "core," or underlying, inflation, including measures that exclude certain prices (such as those of food and energy), "trimmed mean" measures, and others, but other approaches are certainly worth consideration.
8 Further work on the problem of filtering the incoming data so as to obtain better measures of the underlying inflation trend could be of great value to policymakers. The necessity of making policy in real time highlights the importance of maintaining and improving the economic data infrastructure and, in particular, working to make economic data timelier and more accurate.