Inflation at the Household Level

Greg Kaplan and Sam Schulhofer-Wohl

No 22331, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We use scanner data to estimate inflation rates at the household level. Households' inflation rates have an annual interquartile range of 6.2 to 9.0 percentage points. Most of the heterogeneity comes not from variation in broadly defined consumption bundles but from variation in prices paid for the same types of goods. Lower-income households experience higher inflation, but most cross-sectional variation is uncorrelated with observables. Households' deviations from aggregate inflation exhibit only slightly negative serial correlation. Almost all variability in a household's inflation rate comes from variability in household-level prices relative to average prices, not from variability in aggregate inflation.

JEL-codes: D12 D30 E31 (search for similar items in EconPapers)
Date: 2016-06
New Economics Papers: this item is included in nep-mac and nep-mon
Note: EFG LS ME
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Citations: View citations in EconPapers (5)

Published as Greg Kaplan & Sam Schulhofer-Wohl, 2017. "Inflation at the Household Level," Journal of Monetary Economics, .

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Related works:
Journal Article: Inflation at the household level (2017)
Working Paper: Inflation at the Household Level (2017)
Working Paper: Inflation at the Household Level (2016)
Working Paper: Inflation at the Household Level (2016)
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