Consumer goods and services inflation in Latin America during the COVID-19 pandemic

Víctor Manuel Cuevas Ahumada () and Ignacio Perrotini Hernández ()

Brazilian Journal of Political Economy, 2025, vol. 45, issue 1, 24-42

Abstract: Consumer goods inflation significantly exceeded consumer services inflation inmany nations during the COVID-19 pandemic. Therefore, this paper evaluates the key driversof goods prices and services prices in eight Latin American countries during that period.To that end, we employ two fixed effects panel data models involving such nations andmonthly data from January 2020 to December 2022. The models’ specification allows for assessingthe impact of fiscal and monetary policies, exchange rate fluctuations, and two pandemic-related variables, on goods prices and services prices. The models are estimatedthrough two-stage least squares complemented with other remedial measures. JEL Classification: C33; C36; E31; F41.

Keywords: Consumer goods inflation; consumer services inflation; panel data models; COVID-19 pandemic (search for similar items in EconPapers)
Date: 2025
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