In this article, we examine the dynamic interdependencies among components of Japan's consumer price index (CPI) using a two-lag time-varying loading factor (TLTVLF) model. Whereas previous studies have typically decomposed CPI series into long-term trends, seasonal patterns, and cyclical...

The objective of this research is to analyze the impact of consumer price index, exchange rate, broad money supply, and export on tax revenue in Cambodia. The short-run effects from the ARDL cointegration model suggest that inflation negatively influences tax revenue. Changes in the exchange...

We estimate daily wage rates for skilled and unskilled construction workers and agricultural laborers in Switzerland from 1750 to 1860, a period of profound political and economic transformations. Our analysis is based on 17,700 newly collected wage quotes from primary sources and 23,300 price...

Measuring aggregate inflation is subject to two opposing biases: unobserved quality and variety growth, and the use of incorrect weights when new varieties are misclassified. We show that it is possible to measure an aggregate price index free of these biases when we have a subset of products...

This paper estimates the pass-through of world oil price innovations to Philippine fuel prices and headline CPI, and decomposes total CPI pass-through into a fuelbasket component and a residual non-fuel component. Using a recursive SVAR and 25 years of monthly Department of Energy pump price...

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...

Ethiopia initiated a major electricity sector reform in 2024, significantly increasing tariffs and introducing a value-added tax on electricity consumption to improve the financial sustainability of its stateowned utility. This study assesses the short-term distributional, sectoral, and...

Accurate measurement of rental inflation is essential for understanding housing market dynamics, informing policy, and ensuring reliable inflation statistics. This paper constructs a repeat rent index (RRI) using newly available administrative data from the Residential Tenancies Board (RTB),...

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...

The consumer price index (CPI) plays a critical role in measuring inflation. Recent inflation trends, however, have raised questions about its accuracy. This paper evaluates several of these critiques, including that the CPI fails to keep up with rapid changes in consumer expenditure patterns;...

Housing rents are one of the most important and difficult elements of spatial cost of living comparisons. Difficulties arise from the lack of sufficiently detailed and harmonized data, especially at the international level. The emergence of Airbnb has created a valuable new source of...

The rise in inflation in recent years triggered a cost-of-living crisis, in which households' ability to afford basic necessities declined. The cost-of-living crisis disproportionately affected lower income households, with the proportion in material deprivation (i.e. unable to afford basic...

This paper studies the effects of country-specific energy prices on food consumer price inflation (CPI) within a cross-country Phillips curve framework. It considers a panel of 36 OECD member and candidate economies using quarterly data from the start of 1994 to the end of 2021. We find that...

This study examines the effectiveness of using webscraped data to predict price developments in the Austrian food retail sector. We calculate monthly nowcasts of price changes based on daily price data collected by the OeNB since mid-2020, using Eurostat methodology for price index calculation,...