This paper presents new evidence that a positive association exists between inflation and relative prices and relative … inflation rates in very disaggregated data for the United States over the period 1975 through 1992. There is also evidence that … the response of relative prices and relative inflation rates to inflation varies inversely with the information content of …

We provide theory and evidence that relative price shocks can cause aggregate inflation and act as aggregate supply … on U.S. core inflation while depressing U.S. real activity. In a two-sector monetary model with upstream and downstream … predictions. Motivated by post-COVID inflation in the U.S., a model experiment shows that a one-time relative price shock …

inflation and on unemployment. This relationship can be motivated by the existence of the Taylor rule. Using micro survey data … mainly driven by disagreement on inflation. Exploring further determinants, we confirm that central bank transparency as well …