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| dc.title | Inflation Dynamics in Latin America and the Caribbean |
| dc.contributor.author | Ayres, João |
| dc.contributor.author | Galindo, Arturo |
| dc.contributor.author | Novoa, Santiago |
| dc.contributor.author | Nuguer, Victoria |
| dc.contributor.orgunit | Department of Research and Chief Economist |
| dc.coverage | Latin America and the Caribbean |
| dc.date.available | 2023-03-08T14:54:07 |
| dc.date.issue | 2023-02-22T00:02:00 |
| dc.description.abstract | We perform a principal component analysis of the inflation dynamics in Latin America and the Caribbean to assess the recent surge in inflation across the region. The principal component accounts for 57% of the variation in inflation in the last 17 years, and it is highly correlated to the principal components of inflation of country groups outside the region, especially post-COVID-19. Global factors such as US inflation, commodity prices, and international shipping costs can account for at least one-third of the variation of the principal component. The analysis implies that external factors are major drivers of the surge in inflation in the region post-COVID-19 lockdowns. |
| dc.format.extent | 14 |
| dc.identifier.doi | http://dx.doi.org/10.18235/0004751 |
| dc.identifier.url | https://publications.iadb.org/publications/english/document/Inflation-Dynamics-in-Latin-America-and-the-Caribbean.pdf |
| dc.language.iso | en |
| dc.publisher | Inter-American Development Bank |
| dc.subject | Inflation |
| dc.subject | Debtor Finance |
| dc.subject | Commodity Price |
| dc.subject | Coronavirus |
| dc.subject | Freight Logistic |
| dc.subject | Emerging Market |
| dc.subject | Pandemics |
| dc.subject.jelcode | E31 - Price Level • Inflation • Deflation |
| dc.subject.keywords | Inflation;Principal component;COVID-19;Emerging economies |
| dc.type | Technical Notes |
| idb.identifier.pubnumber | IDB-TN-02653 |
| idb.operation | RG-K1098 |