Shipping Prices and Import Price Inflation

Import Prices and Inflation

Understanding the consequences of international developments for domestic inflation is an extremely important question for central banks. But before we claim to have measured the extent of import price pass-through, it is necessary to be clear on exactly what such a number is intended to mean. One can attempt to come up with an answer on the basis of either economic theory or empirical evidence...

Globalisation, import prices and inflation: how reliable are the ‘tailwinds’?

Rising ratios of trade to world output (Chart 1) and the integration of emerging markets in the global economy (Chart 2) have been key aspects of globalisation. Several of the possible macroeconomic consequences were explored in a recent Quarterly Bulletin article by Spange and Young (2007). These phenomena are having a profound effect on the world economy. But what implications do they have fo...

Adjusting Prices for Inflation and Creating Price Indices

INTRODUCTION Prices are a standard and important component of market and food security analysis because they serve as an indicator of both food availability and food access. Prices are a measure of availability because they tend to rise as the supply of food falls in relation to demand (e.g., poor production, constrained imports of food), and they tend to fall when supply expands in relation to...

Inflation and health care prices.

Chinese Exports and U.S. Import Prices

paper presents preliminary fi ndings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the author and are not necessarily refl ective of views at the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the author. as w...