Consumer price adjustment under the microscope: Germany in a period of low inflation

Johannes Hoffmann and Jeong-Ryeol Kurz-Kim

No 652, Working Paper Series from European Central Bank

Abstract: We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index that covers the years 1998 to 2003. We strong find evidence of time- and statedependent price adjustment. Most importantly, the differences in "unconditional" sectoral price flexibility are found to be linked to input price volatility. JEL Classification: E31, D43, L11

Keywords: consumer price index; Germany; price flexibility; price rigidity (search for similar items in EconPapers)
Date: 2006-07
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (98)

Downloads: (external link)
https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp652.pdf (application/pdf)

Related works:
Working Paper: Consumer price adjustment under the microscope: Germany in a period of low inflation (2006)
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:ecb:ecbwps:2006652

Access Statistics for this paper

More papers in Working Paper Series from European Central Bank 60640 Frankfurt am Main, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Official Publications ().