Understanding the food component of inflation

Emanuel Kohlscheen

Papers from arXiv.org

Abstract: This article presents evidence based on a panel of 35 countries over the past 30 years that the Phillips curve relation holds for food inflation. That is, broader economic overheating does push up the food component of the CPI in a systematic way. Further, general inflation expectations from professional forecasters clearly impact food price inflation. The analysis also quantifies the extent to which higher food production and imports, or lower food exports, reduce food inflation. Importantly, the link between domestic and global food prices is typically weak, with passthroughs within a year ranging from 0.07 to 0.16, after exchange rate variations are taken into account.

Date: 2022-12
New Economics Papers: this item is included in nep-agr and nep-mon
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Citations: View citations in EconPapers (3)

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http://arxiv.org/pdf/2212.09380 Latest version (application/pdf)

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Working Paper: Understanding the Food Component of Inflation (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2212.09380

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