Commodity Prices and Inflation in the Middle East, North Africa, and Central Asia

Inflation followed a strikingly uniform pattern in all countries of the Middle East, North Africa, and Central Asia during the period 1996-2009, falling until about 2000 and then rising. International fuel prices do not help explain this pattern. This conclusion is robust even when different cross s...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2010
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 33 pages 
651 4 |a United States 
653 |a Inflation 
653 |a Energy: Demand and Supply 
653 |a Exchange rate arrangements 
653 |a Deflation 
653 |a Currency 
653 |a Fuel prices 
653 |a Price Level 
653 |a Foreign Exchange 
653 |a Prices 
653 |a Macroeconomics 
653 |a Commodity prices 
653 |a Exchange rates 
653 |a Commodity Markets 
653 |a Foreign exchange 
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520 |a Inflation followed a strikingly uniform pattern in all countries of the Middle East, North Africa, and Central Asia during the period 1996-2009, falling until about 2000 and then rising. International fuel prices do not help explain this pattern. This conclusion is robust even when different cross sections of countries are tested or when different regression variables are included. The pattern of inflation is explained mainly by past inflation, the strength of the US dollar, US inflation, and—depending on the subset of countries analyzed—monetary and exchange rate policies and nonfuel commodity prices