Blomberg, Stephen Brock; Harris, Ethan S. - Federal Reserve Bank <New York, NY> - 1995
Interest in commodity prices as indicators of consumerprice inflation has ebbed and flowed withthe rise and fall in … predictivepower has returned. Inflation hawks point to an outpouringof studies in the late 1980s showing a strong empiricalconnection … between commodity prices and subsequentconsumer inflation. Indeed, the concern over commoditieshas grown to the point where …