During the recovery from the Great Recession, inflation did not reach the central bank's 2 percent objective as quickly … contestable and damped retail inflation. This hypothesis is tested using data on the online share of retail sales, which are … sensitivity of inflation to unemployment rate changes. Improvement in fit from just including the online share is tiny—so far …

inflation will neither increase nor decrease in the short-run. We estimate the NAIRU jointly with price equations by using the … a beneficial impact on RPIX inflation over the last few years. We show that deviations of unemployment from the short …-run NAIRU measures prove helpful in predicting inflation and we demonstrate their usefulness in Taylor-type policy rules for the …