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 …

and at the beginning of a quarter, on various conditional frequencies of adjustment, inflation and its variability …

In most OECD countries, we cannot reject up to three breaks in the mean of inflation: one break in the late 1960’s … phenomena. We also show that ignoring breaks in the mean of inflation clearly lead to overrate inflation persistence in standard … bi-variate models of inflation. The response of inflation to shocks in these models is markedly faster with breaks than …

equilibrium values having explanatory power for subsequent consumer price inflation. …

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 …

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 …