We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price …

inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a … dynamic factor model for 404 inflation sub-indices of the euro area CPI. This allows to decompose the dynamics of inflation … overall variance of the 404 disaggregate inflation series, is the main driver of aggregate dynamics. In addition, the …

We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price …

This paper studies the role of global factors in causing common movements in consumer price inflation, with particular … collected from national and international sources. Global factors explain a large share of the variance of national inflation …

We propose a new core inflation measure for the Euro area which places the emphasis on the more lasting, i …. Unlike headline inflation, our baseline core inflation measure is highly correlated with ECB monetary policy decisions, which …

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 …

How much does quality adjustment matter in measuring consumer price inflation? To address this question, we use different … large range of goods and services but, on average, price adjustments due to quality changes reduce headline inflation only by … distribution of member states’ cumulative inflation rates for typical quality-adjusted products. Our macro-based estimate makes up …

This paper studies how disasters affect consumer price inflation, one of the main remaining gaps in our understanding … type of disasters, particularly when considering inflation sub-indices. Storms increase food price inflation in the near … term, although the effect dissipates within a year. Floods also typically have a short-run impact on inflation. Earthquakes …