Document Type
Article
Abstract
In this study, we use a commodity augmented Phillips curve to investigate the impact of global commodity prices on domestic inflation in Brazil, Russia, India, Indonesia, China, and South Africa. Oil and energy prices cause inflationary pressures in all countries, except Russia, where they cause deflationary pressures. In Indiaand Indonesia, global food prices are highly significant and positively related to inflation, while in South Africa precious metal prices impact inflation negatively. For policymakers, this study provides insights on the domestic adjustments required for inflation targeting in response to global commodity price volatility.
Recommended Citation
Rizvi, Syed Aun R. and Sahminan, Sahminan
(2020)
"COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS,"
Bulletin of Monetary Economics and Banking: Vol. 23:
No.
4, Article 1.
DOI: https://doi.org/10.21098/bemp.v23i4.1418
Available at:
https://bulletin.bmeb-bi.org/bmeb/vol23/iss4/1
First Page
485
Last Page
500
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Country
Pakistan
Affiliation
Lahore University of Management Sciences
