Article Title

COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS

Authors

Syed Aun R. Rizvi, Lahore University of Management Sciences - PakistanFollow
Sahminan Sahminan, Bank Indonesia - IndonesiaFollow

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