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Relationship between Exchange Rate and Inflation in Russia

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  • M. KATARANOVA.

Abstract

The article estimates the short- and medium-run exchange rate pass-through effect on consumer prices on the aggregate level and for individual groups of goods and services for the period from 2000 to 2008. Special attention is paid to the asymmetric exchange rate pass-through. It is shown that the improvement of certain macroeconomic indicators in recent years in Russia has not led to a reduction in pass-through effect on inflation as in other countries. The pass-through effect has a pronounced asymmetrical character, that is, consumer prices are more likely to respond to the depreciation of the domestic currency, than to its appreciation. The largest effect is observed for the food CPI while its costs constitute a significant part of household budget in Russia.

Suggested Citation

  • M. Kataranova., 2010. "Relationship between Exchange Rate and Inflation in Russia," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
  • Handle: RePEc:nos:voprec:2010-01-4
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    Cited by:

    1. Faryna, Oleksandr, 2016. "Exchange rate pass-through and cross-country spillovers: Some evidence from Ukraine and Russia," BOFIT Discussion Papers 14/2016, Bank of Finland, Institute for Economies in Transition.
    2. Vugar Rahimov & Nigar Jafarova & Fuad Ganbarov, 2017. "The Exchange Rate Pass-Through to CPI and its components in Oil-Exporting CIS Countries," IHEID Working Papers 06-2017, Economics Section, The Graduate Institute of International Studies.
    3. repec:eee:riibaf:v:44:y:2018:i:c:p:186-217 is not listed on IDEAS
    4. Comunale, Mariarosaria & Simola, Heli, 2018. "The pass-through to consumer prices in CIS economies: The role of exchange rates, commodities and other common factors," Research in International Business and Finance, Elsevier, vol. 44(C), pages 186-217.
    5. Egorov D.A. & Perevyshina E.A., 2016. "Modelling of Inflationary Processes in Russia," Working Papers 2138, Russian Presidential Academy of National Economy and Public Administration.
    6. Mariarosaria Comunale & Heli Simola, 2016. "The Pass-Through to Consumer Prices in CIS Economies: the Role of Exchange Rates, Commodities and Other Common Factors Abstract: This empirical study considers the pass-through of key nominal exchange," Bank of Lithuania Working Paper Series 35, Bank of Lithuania.

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