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Recent developments in pipeline pressures for non-energy industrial goods inflation in the euro area

Author

Listed:
  • Koester, Gerrit
  • Rubene, Ieva
  • Gonçalves, Eduardo
  • Nordeman, Jakob

Abstract

The recent marked increases in the cost of commodities, raw materials and intermediate products have so far led to only limited upward pressures on consumer goods inflation. Looking ahead, upward pressures on non-energy industrial goods (NEIG) inflation from recent global developments in these input costs are expected to strengthen, as the pass-through generally takes more than one year. How visible and strong the impact on NEIG inflation might be will depend on how persistent the global input cost shocks ultimately are. JEL Classification: E31, Q02, D12

Suggested Citation

  • Koester, Gerrit & Rubene, Ieva & Gonçalves, Eduardo & Nordeman, Jakob, 2021. "Recent developments in pipeline pressures for non-energy industrial goods inflation in the euro area," Economic Bulletin Boxes, European Central Bank, vol. 5.
    • Handle: RePEc:ecb:ecbbox:2021:0005:7
    Note: 3015628
    as

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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2021/html/ecb.ebbox202105_07~d799754f4e.en.html
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    Citations

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    Cited by:

    1. Boysen-Hogrefe, Jens & Groll, Dominik & Kooths, Stefan & Sonnenberg, Nils & Stolzenburg, Ulrich, 2022. "Euroraum im Frühjahr 2022 - Kriegsschock lastet auf Erholung [Euro Area Spring 2022 - War in Ukraine impairs post-pandemic recovery]," Kieler Konjunkturberichte 88, Kiel Institute for the World Economy (IfW Kiel).
    2. Ciccarelli, Matteo & Kuik, Friderike & Martínez Hernández, Catalina, 2023. "The asymmetric effects of weather shocks on euro area inflation," Working Paper Series 2798, European Central Bank.
    3. Ademmer, Martin & Boysen-Hogrefe, Jens & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Meuchelböck, Saskia & Stolzenburg, Ulrich, 2021. "Deutsche Wirtschaft im Herbst 2021 - Delle im Aufholprozess [German Economy Autumn 2021 - Protracted catching-up process]," Kieler Konjunkturberichte 83, Kiel Institute for the World Economy (IfW Kiel).

    More about this item

    Keywords

    Economic activity; euro area; inflation;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • Q02 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Commodity Market
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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