Heterogeneity of inflation in the euro area: more complicated than it seems

Christophe Blot (), Jerome Creel, François Geerolf and Sandrine Levasseur
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Christophe Blot: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

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Abstract: We document different measures of inflation heterogeneity in the euro area. We ask what mostly drives this heterogeneity and whether there is cause for concern. Heterogeneity in headline inflation has increased substantially, and way more than heterogeneity in core inflation. We argue that core inflation dispersion is largely driven by small countries, where inflation reversion is the most likely. We then discuss about monetary policy as a limiting or aggravating factor of inflation heterogeneity.

Date: 2022-11
New Economics Papers: this item is included in nep-cba and nep-mon
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Published in Monetary Dialogue Papers, 2022, pp.1-31. ⟨10.2861/737138⟩

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Working Paper: Heterogeneity of inflation in the euro area: more complicated than it seems (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:spmain:hal-03970416

DOI: 10.2861/737138

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