Oil prices feed through to core inflation – Fed paper
Research finds changes in the oil price have a small but statistically significant impact on core inflation
Digging into disaggregated inflation data has allowed researchers to make new insights into how oil prices affect inflation. A working paper published by the Federal Reserve finds changes in the oil price feed into both headline and core inflation.
Cristina Conflitti of the Bank of Italy and Matteo Luciani of the Fed separate historical US inflation data into a common, macroeconomic component and an idiosyncratic component that only affects some elements of inflation. They find the common
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