Kerngrößen

Kerngrößen are fundamental economic indicators used to measure and analyze the underlying trends in an economy, excluding volatile components. They are designed to provide a more stable and reliable picture of economic activity by filtering out short-term fluctuations caused by factors such as seasonal changes, one-off events, or temporary price shocks.

The concept of Kerngrößen is particularly relevant in monetary policy and economic forecasting. Central banks and economic analysts often focus on these core metrics to understand the persistent inflationary pressures or the underlying growth momentum of an economy, separate from the noise that can distort headline figures. By removing these temporary influences, policymakers can make more informed decisions about interest rates, fiscal policies, and other economic interventions.

Common examples of Kerngrößen include core inflation, which excludes food and energy prices, as these are often subject to significant and rapid price swings due to supply disruptions, geopolitical events, or weather patterns. Another example is core inflation adjusted for indirect taxes and subsidies. In terms of economic growth, Kerngrößen might refer to measures of output that exclude changes in inventories or temporary fluctuations in specific sectors. The specific definition and components of Kerngrößen can vary depending on the institution or country employing them, but the underlying principle remains the same: to isolate the enduring economic forces at play.