Exchange Rate Pass-Through to Consumer Prices in South Africa: Evidence from Micro-Data
A sizeable literature examines exchange rate pass-through to disaggregated import prices, but few micro-studies focus on consumer prices. This article explores exchange rate pass-through to consumer prices in South Africa, for 2002-2007, using a unique data set of highly disaggregated data at the product and outlet level. The empirical approach allows pass-through to be calculated over various horizons for different goods and services. The heterogeneity of pass-through for food sub-components is considerable. Switches between import and export parity pricing of maize are found significant for five out of ten food sub-components. Using actual weights from the CPI basket, overall pass-through to the almost 63 per cent of the CPI covered is about 30 per cent after two years, and higher for food.
Year of publication: |
2014
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Authors: | Aron, Janine ; Creamer, Kenneth ; Muellbauer, John ; Rankin, Neil |
Published in: |
Journal of Development Studies. - Taylor & Francis Journals, ISSN 0022-0388. - Vol. 50.2014, 1, p. 165-185
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Publisher: |
Taylor & Francis Journals |
Saved in:
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