The Effect of Oil Prices on Core Inflation: Recent Evidence from the Advanced Economies

Andrea De Michelis, Musa Orak, Avani Pradhan and Albert Queraltó
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Andrea De Michelis: https://www.federalreserve.gov/econresdata/andrea-de-michelis.htm
Musa Orak: https://www.federalreserve.gov/econres/musa-orak.htm
Albert Queraltó: https://www.federalreserve.gov/econres/albert-queralto.htm

No 2026-11-09-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Elevated oil prices and heightened geopolitical uncertainty have renewed interest in a longstanding policy question: do supply shocks like oil-price increases pose a transitory or a persistent threat to price stability? This note sheds light on this question by providing new evidence on whether the inflation process has changed.

Date: 2026-11-09
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:104039

DOI: 10.17016/2380-7172.4190

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