Underlying Inflation Gauge for the U.S. – joint work with Fed NY (FRBNY)

UIG captures sustained movements in inflation from information contained in a broad set of price, real activity, and financial data.
UIG proved especially useful in detecting turning points in trend inflation and has shown higher forecast accuracy compared with core inflation measures.
UIG complements the inflation dashboard of policy makers and investors.

For an introduction check out “Measuring Trend Inflation with the Underlying Inflation Gauge”.
For an explanation of UIG construction and review of the experience of the Federal Reserve Bank of New York with daily, real-time updates of the UIG, made internally since 2005: “The New York Fed Staff Underlying Inflation Gauge (UIG)
For monthly updates by FRBNY
Bloomberg Ticker: UIGDATA (for UIG full), UIGDPRIC (for UIG prices)

References

Real Time Underlying inflation gauges for policy makers,
2009, FRBNY Staff Report No. 420, with Simon Potter.
The Federal Reserve Bank of New York staff Underlying Inflation Gauge,
2014, with Simon Potter and Robert Rich published as FRBNY Working paper No. 672 in April 2014 and BIS working paper No. 453 in July 2014; published in Economic Policy Review (2017).
The New York Fed Staff Underlying Inflation Gauge (UIG),
2017, with Simon Potter and Robert Rich, Economic Policy Review, Federal Reserve Bank of New York.