What Drives U.S. Import Price Inflation?

Inflation has risen sharply in many countries since the COVID-19 outbreak, and economists have debated the underlying causes. In this paper, we examine the drivers of the global import price inflation, which peaked at approximately 11 percent a year. We find that a common global component closely tracks movements in aggregate US import prices until late 2022. Afterward, idiosyncratic US demand shocks started to dominate.

• Publication year

  2024

• Venue

  Social Science Research Network

• Publication date

  2024-05-01

• Fields of study

  Not labeled

• Identifiers
  DOI 10.2139/ssrn.4722974
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

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