Where Is Inflation Persistence Coming From?

Babur Kocaoglu, Martin Almuzara and Argia Sbordone

No 20230706b, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Elevated inflation continues to be a top-of-mind preoccupation for households, businesses, and policymakers. Why has the post-pandemic inflation proved so persistent? In a Liberty Street Economics post early in 2022, we introduced a measure designed to dissect the buildup of the inflationary pressures that emerged in mid-2021 and to understand where the sources of its persistence are. This measure, that we labeled Multivariate Core Trend (MCT) inflation analyzes whether inflation is short-lived or persistent, and whether it is concentrated in particular economic sectors or broad-based.

Keywords: inflation; persistence; trend (search for similar items in EconPapers)
JEL-codes: E31 E52 (search for similar items in EconPapers)
Date: 2023-07-06
New Economics Papers: this item is included in nep-mon
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