Global food prices and domestic inflation: Some cross-country evidence

Davide Furceri, Davide Furceri, Prakash Loungani, Susan M. Wachter, John Simon, John Simon

Risultato della ricerca: Articlepeer review

10 Citazioni (Scopus)

Abstract

We study the impact of global food price shocks on domestic inflation in a large group of countries. For advanced economies, a 10% increase in global food inflation raises domestic inflation by about 0.5 percentage point after a year; however, the impact has declined over time and become less persistent. The global food price shocks of the 2000s had a much bigger impact on domestic inflation in emerging and developing economies than in advanced economies. This could reflect the smaller share of food in the consumption baskets in advanced economies. We also provide evidence that inflation expectations are more anchored in advanced than in emerging economies, which could also explain the smaller impact on inflation from global food price shocks.
Lingua originaleEnglish
pagine (da-a)665-687
Numero di pagine23
RivistaOxford Economic Papers
Volume68
Stato di pubblicazionePublished - 2016

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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