An ideal core inflation measure shall thus measure the more common and persistent component of the measured inflation rate and show how high inflation is when temporary effects have faded.^[8] See, for example, Khan et al. (2015), Roger (1998), Rich et al. (2005) and Wynne (2008) for a discussion of the desirable characteristics of a measure of core inflation. Based on this desirable characteristic, the measures should therefore be forward-looking and already contain information on future inflation. It can also be concluded that the measure should be correlated with macroeconomic drivers of inflation, such as the demand situation.

In an Economic Commentary and an article from 2018, the Riksbank's then existing measure of core inflation were evaluated.^[9] See Johansson et al. (2018). This was done based on their ability to forecast future CPIF inflation and how well correlated they were with resource utilisation in the economy. The KPIFPC and UND24 measures appeared to be the most useful.

This section evaluates the new measures based on price changes over periods shorter than one year alongside the old measures evaluated in 2018, which are based on annual percentage changes. The measures are evaluated first according to how well they predict future CPIF inflation and then according to how well they are correlated with measures of resource utilisation.