EconPapers    
Economics at your fingertips  
 

One-Stop Source: A Global Database of Inflation

Ayhan Kose, Jongrim Ha and Franziska Ohnsorge

No 16327, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper introduces a global database that contains inflation series: (i) for a wide range of inflation measures (headline, food, energy, and core consumer price inflation; producer price inflation; and gross domestic product deflator changes); (ii) at multiple frequencies (monthly, quarterly and annual) for an extended time period (1970-2021); and (iii) for a large number of (up to 196) countries. As it doubles the number of observations over the next-largest publicly available sources, our database constitutes a comprehensive, single source for inflation series. We illustrate the potential use of the database with three applications. First, we study the evolution of inflation since 1970 and document the broad-based disinflation around the world over the past half-century, with global consumer price inflation down from a peak of roughly 17 percent in 1974 to 2.5 percent in 2020. Second, we examine the behavior of inflation during global recessions. Global inflation fell sharply (on average by 0.9 percentage points) in the year to the trough of global recessions and continued to decline even as recoveries got underway. In 2020, inflation declined less, and more briefly, than in any of the previous four global recessions over the past 50 years. Third, we analyze the role of common factors in explaining movements in different measures of inflation. While, across all inflation measures, inflation synchronization has risen since the early 2000s, it has been much higher for inflation measures that involve a larger share of tradable goods.

Keywords: Prices; Global inflation; Deflation; Inflation synchronization; Global factor (search for similar items in EconPapers)
JEL-codes: E30 E31 F42 (search for similar items in EconPapers)
Date: 2021-07
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://cepr.org/publications/DP16327 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: One-stop source: A global database of inflation (2023) Downloads
Working Paper: One-stop source: A global database of inflation (2021) Downloads
Working Paper: One-Stop Source: A Global Database of Inflation (2021) Downloads
Working Paper: One-Stop Source: A Global Database of Inflation (2021) Downloads
Working Paper: One-Stop Source: A Global Database of Inflation (2021) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:16327

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP16327

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().

 
Page updated 2024-02-07
Handle: RePEc:cpr:ceprdp:16327