Valderrama, Diego - In: FRBSF Economic Letter (2006)
Since February of 2002, the dollar has lost 27% of its value relative to other major currencies. Over the same period …, consumer prices (excluding food and energy goods) have increased by a much smaller amount--8.9%. To economists, and … particularly to central bankers and others who think about forecasting inflation, this relative insensitivity of consumer prices to …
