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Global inflation: the role of food, housing and energy prices

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  • Parker, Miles

Abstract

This paper studies the role of global factors in causing common movements in consumer price inflation, with particular focus on the food, housing and energy sub-indices. It uses a comprehensive dataset of 223 countries and territories collected from national and international sources. Global factors explain a large share of the variance of national inflation rates for advanced countries JEL Classification: E31, E52, F42

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  • Parker, Miles, 2017. "Global inflation: the role of food, housing and energy prices," Working Paper Series 2024, European Central Bank.
  • Handle: RePEc:ecb:ecbwps:20172024
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    Cited by:

    1. Miles Parker, 2018. "The Impact of Disasters on Inflation," Economics of Disasters and Climate Change, Springer, vol. 2(1), pages 21-48, April.
    2. William Ginn & Marc Pourroy, 2020. "The Contribution of Food Subsidy Policy to Monetary Policy," Working Papers hal-02944209, HAL.
    3. Ha, Jongrim & Kose, Ayhan & Ohnsorge, Franziska, 2019. "Global Inflation Synchronization," CEPR Discussion Papers 13600, C.E.P.R. Discussion Papers.
    4. Godwin Edet Bassey & Uduak Michael Ekong, 2019. "Energy Consumption and Inflation Dynamics in Nigeria: An ARDL Cointegration Approach," Energy Economics Letters, Asian Economic and Social Society, vol. 6(2), pages 66-83, December.
    5. Patrick Blagrave, 2020. "Inflation co-movement in emerging and developing Asia: the monsoon effect," Applied Economics Letters, Taylor & Francis Journals, vol. 27(15), pages 1277-1283, September.
    6. Oleg S. Sukharev, 2020. "Inflation control and adequacy of targeting to economic growth policy," Upravlenets, Ural State University of Economics, vol. 11(1), pages 33-44, March.
    7. Aleksei Kiselev & Aleksandra Zhivaykina, 2019. "The role of global relative price changes in international comovement of inflation," Bank of Russia Working Paper Series wps53, Bank of Russia.
    8. De Soyres,Francois Michel Marie Raphael & Franco Bedoya,Sebastian, 2019. "Inflation Dynamics and Global Value Chains," Policy Research Working Paper Series 9090, The World Bank.
    9. Aytül Ganioğlu, 2020. "How Consumers’ Inflation Expectations Respond to Explosive Periods of Food and Energy Prices: Evidence for European Union Countries," Prague Economic Papers, Prague University of Economics and Business, vol. 2020(3), pages 351-377.
    10. Feldkircher, Martin & Siklos, Pierre L., 2019. "Global inflation dynamics and inflation expectations," International Review of Economics & Finance, Elsevier, vol. 64(C), pages 217-241.
    11. Aytül Ganioğlu, . "How Consumers' Inflation Expectations Respond to Explosive Periods of Food and Energy Prices: Evidence for European Union Countries," Prague Economic Papers, University of Economics, Prague, vol. 0.
    12. Aytül Ganioğlu, . "How Consumers’ Inflation Expectations Respond to Explosive Periods of Food and Energy Prices: Evidence for European Union Countries," Prague Economic Papers, University of Economics, Prague, vol. 0, pages 1-24.
    13. David Finck & Peter Tillmann, 2019. "The Role of Global and Domestic Shocks for In flation Dynamics: Evidence from Asia," MAGKS Papers on Economics 201904, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    14. Gregor Bäurle & Matthias Gubler & Diego R. Känzig, 2017. "International inflation spillovers - the role of different shocks," Working Papers 2017-07, Swiss National Bank.
    15. Karolina Tura-Gawron & Maria Siranova & Karol Fisikowski, 2018. "ARE CONSUMER INFLATION EXPECTATIONS AN INTERNATIONAL PHENOMENON? Results of spatial panel regressions models," GUT FME Working Paper Series A 50, Faculty of Management and Economics, Gdansk University of Technology.
    16. Philipp Baumann & Enzo Rossi & Alexander Volkmann, 2020. "What Drives Inflation and How: Evidence from Additive Mixed Models Selected by cAIC," Papers 2006.06274, arXiv.org.

    More about this item

    Keywords

    common factor; energy prices; food prices; global inflation;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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