This paper examines the global drivers of inflation in 55 countries over the 1970–2022 period. We estimate a Factor … domestic shocks. We report three main results. First, global shocks have explained about 26 percent of inflation variation in a … typical economy. Oil price shocks accounted for only about 4 percent of inflation variation, but they had a statistically …

This paper examines the global drivers of inflation in 55 countries over the 1970–2022 period. We estimate a Factor … domestic shocks. We report three main results. First, global shocks have explained about 26 percent of inflation variation in a … typical economy. Oil price shocks accounted for only about 4 percent of inflation variation, but they had a statistically …

useful information about variables such as commodity prices which matter for aggregate demand and thus inflation. Given this … worldwide level of interest rates received in the recent debate about the world savings and liquidity glut as one of the main …

soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to …Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and … developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the …

We study the impact of fluctuations in global oil prices on domestic inflation using an unbalanced panel of 72 advanced … and developing economies over the period from 1970 to 2015. We find that a 10 percent increase in global oil inflation … increases, on average, domestic inflation by about 0.4 percentage point on impact, with the effect vanishing after two years and …

supply chain disruptions for inflation and monetary policy in sub-Saharan Africa. Increases in supply chain pressures have … had a sizeable impact on headline, food, and tradable inflation for a panel of 29 sub-Saharan African countries from 2000 … to 2022. Our findings suggest that central banks can stabilize inflation and output more efficiently by monitoring global …

We analyze the evolution and drivers of inflation during the pandemic and the likely trajectory of inflation in the … near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR …) model. We report three main results. First, the decline in global inflation during the 2020 global recession was the most …

Oil price showed sharp fluctuations in recent years which revived the interest in its effect on inflation. In this … paper, we discuss the relationship between oil price and inflation in Spain, at national and regional levels, and making the … distinction between energy and non-energy inflation. To this end, we fit econometric models to measure the effect of oil price …

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 …