COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS

COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS

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 def...

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Bibliographic Details
Main Authors: Syed Aun R. Rizvi, Sahminan Sahminan
Format: Article
Language:Indonesian
Published: Bank Indonesia 2021-01-01
Series:Bulletin Ekonomi Moneter dan Perbankan
Subjects:
commodity prices;
inflation
briics
augmented philip curve.
Online Access:https://www.bmeb-bi.org/index.php/BEMP/article/view/1418
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spelling doaj-de0aab7614d841ecae390e468bf15a0e2021-02-02T09:25:23ZindBank IndonesiaBulletin Ekonomi Moneter dan Perbankan1410-80462460-91962021-01-0123448550010.21098/bemp.v23i4.14181418COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICSSyed Aun R. Rizvi0Sahminan Sahminan1Lahore University of Management SciencesDepartment of Economics and Monetary Policy, Bank IndonesiaIn 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 India and 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.https://www.bmeb-bi.org/index.php/BEMP/article/view/1418commodity prices;inflationbriicsaugmented philip curve.
collection DOAJ
language Indonesian
format Article
sources DOAJ
author Syed Aun R. Rizvi
Sahminan Sahminan
spellingShingle Syed Aun R. Rizvi
Sahminan Sahminan
COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS
Bulletin Ekonomi Moneter dan Perbankan
commodity prices;
inflation
briics
augmented philip curve.
author_facet Syed Aun R. Rizvi
Sahminan Sahminan
author_sort Syed Aun R. Rizvi
title COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS
title_short COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS
title_full COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS
title_fullStr COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS
title_full_unstemmed COMMODITY PRICE AND INFLATION DYNAMICS: EVIDENCE FROM BRIICS
title_sort commodity price and inflation dynamics: evidence from briics
publisher Bank Indonesia
series Bulletin Ekonomi Moneter dan Perbankan
issn 1410-8046
2460-9196
publishDate 2021-01-01
description 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 India and 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.
topic commodity prices;
inflation
briics
augmented philip curve.
url https://www.bmeb-bi.org/index.php/BEMP/article/view/1418
work_keys_str_mv AT syedaunrrizvi commoditypriceandinflationdynamicsevidencefrombriics
AT sahminansahminan commoditypriceandinflationdynamicsevidencefrombriics
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