synchronized within rather than across stores. Time variations in inflation can be attributed mainly to variations in the frequency …

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

equilibrium values having explanatory power for subsequent consumer price inflation …

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 … the overall variance of the 404 disaggregate inflation series, is the main driver of aggregate dynamics. In addition, the …

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 …

This paper uses disaggregated CPI time series to show that a break in the mean of French inflation occurred in the mid … mean break, both aggregate and sectoral inflation persistence are stable and low, with the unit root lying far in the tail … price changes (at the firm level) appears positively related with inflation persistence (at the aggregate level) …

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 …