Inflation is the percentage change in the CPI over a given period of time. It is usually calculated over a year (year-on-year inflation) and over a month (month-to-month inflation). Even if prices are not currently rising from month to month, the year-to-year inflation rate could still be...

We use CPI micro data for nine euro area countries to document new evidence on consumer price stickiness in the euro area during the 2021-2024 inflation cycle. In 2022, the monthly frequency of price changes reached 12%, compared with an average of 8% over 2010-2019, roughly a...

Improper quality adjustment has long been identified as a source of potential measurement bias in consumer price indices (CPIs). However, as no benchmark for quality adjustment exists, it has always been difficult to estimate a potential bias. For this paper, we develop a corridor in which...