Surprisingly it did not, or at least not directly. Using micro data on consumer prices and sectoral inflation rates … has altered the behaviour of retail price setting and/or inflation dynamics. We find no evidence that anything has changed … earlier patterns. On the contrary, we do find evidence of a decline in the persistence of the inflation process in the mid …

This paper assesses the impact of weather shocks on inflation components in the four largest euro area economies. We … combine high-frequency weather data with monthly data on inflation and output growth within a set of Bayesian Vector Autore … asymmetries and seasonal responses of inflation to temperature shocks, mainly via food, energy, and service prices. An increase in …

This paper documents, for the first time in a systematic manner, the link between labor cost and price inflation in the … and price inflation in the four major economies of the euro area and across the three main sectors. The dynamic …. Our results show that it is more likely that labor costs are passed on to price inflation with demand shocks than with …

changes does not change much with inflation and does not react much to aggregate shocks; (vi) changes in inflation are mostly … consistent with the predictions of a menu cost model in a low inflation environment where idiosyncratic shocks are a more …

inflation almost universally to the upside; and the second – starting well into the post-Lehman period – characterised by … stability with a hard 2% ceiling, functioned as a key shock-absorber in the relatively high-inflation years prior to the crisis … inflation and economic activity …

out to be only a slowdown, and inflation never departed from levels consistent with the ECB's quantitative definition of …

inflation would have been 1.1 p.p. and 0.75 p.p. lower, respectively, and the unemployment rate 1.1 p.p. higher than they …