Deputy Governor Schembri did a miserable job of explaining the three so-called new measures of core inflation that now define the operational guide. There is nothing really new about any of them. They are all successor series to series that were calculated before. CPI-median and CPI-common are successor series to the weighted median series (dates from 1997) and the common component of CPI series (dates from 2013) respectively. They differ from their predecessors by using the CPIXT series (CPI excluding changes in indirect taxes) as their base, rather than the CPI All-items. CPI-trim is the successor series to the weighted trim mean (MEANSTD) series (dates from 1997) which was always based on CPI-XT. Where the MEANSTD series excluded the components of the CPI that increased or decreased more than 1.5 standard deviations from the mean in any given month, CPI-trim arbitrarily lops off the top 20% and bottom 20% of price changes by weight.