movements in the global commodity markets. To test this perception, we use the case of India to establish in a standard SVAR … model that global food prices influence aggregate prices and food prices in India. To further analyze these empirical … over the period from 1996Q2 to 2013Q2 by applying Bayesian estimation techniques. …

This paper seeks to document and explain the effect of a commodity price shock on underlying core inflation, and how … across many countries there was a break in the response of core inflation to a commodity price shock. In an earlier period, a … shock to commodity prices would lead to a large and significant increase in core inflation, but in later periods, the effect …