As with many monetary policy frameworks, inflation targeting is subject to the well-known problem of inflation bias …. With inflation targeting, however, the bias becomes apparent not as inflation above desired levels, but as a wedge between … the announced target and observed inflation. This inconsistency could render the framework neither credible nor …

This study investigates inflation persistence in annual CPI inflation collected between 1994 and 2014 for 46 African … countries. We group these countries into panels according to whether they are inflation targeters or not and conduct estimations … for pre and post inflation targeting periods. Interestingly enough, we find that inflation persistence was much higher for …