Faccia, Donata; Parker, Miles; Stracca, Livio - 2021
affect medium-term inflation, the primary objective of monetary policy. Using panel local projections for 48 advanced and … prices, including the food and non-food components, producer prices and the GDP deflator. Hot summers increase food price … inflation in the near term, especially in EMEs. But over the medium term, the impact across the various price indices tends to …