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The impact of oil price cha...

The impact of oil price changes on Spanish and euro area consumer price inflation

Álvarez, Luis J.

Banco de España 2009

This paper assesses the impact of oil price changes on Spanish and euro area consumer price inflation. We find, consistently with recent international evidence, that the inflationary effect of oil price changes is limited, even though crude oil price fluctuations are a major driver of inflation variability. The impact on Spanish inflation is found to be somewhat higher than in the euro area. Direct effects are increasing over time, reflecting the higher spending of households on refined oil products, whereas indirect ones, defined in broad terms, are losing importance

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analitica Rebiun37967500 https://catalogo.rebiun.org/rebiun/record/Rebiun37967500 m d cr cnunnnauuau 091022s2009 sp rt a000 0 eng c ES-LeU Álvarez, Luis J. The impact of oil price changes on Spanish and euro area consumer price inflation Luis J. Álvarez... [et al.] Madrid Banco de España 2009 Madrid Madrid Banco de España 36 p. 30 cm 36 p. Documentos ocasionales / Banco de España, Servicio de Estudios ISSN 1696-2222 2009-04 This paper assesses the impact of oil price changes on Spanish and euro area consumer price inflation. We find, consistently with recent international evidence, that the inflationary effect of oil price changes is limited, even though crude oil price fluctuations are a major driver of inflation variability. The impact on Spanish inflation is found to be somewhat higher than in the euro area. Direct effects are increasing over time, reflecting the higher spending of households on refined oil products, whereas indirect ones, defined in broad terms, are losing importance Texto completo disponible también en Internet, en formato PDF Álvarez, Luis J. Banco de España. Servicio de Estudios Documentos ocasionales (Banco de España. Servicio de Estudios)

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analitica Rebiun37967500 https://catalogo.rebiun.org/rebiun/record/Rebiun37967500 m d cr cnunnnauuau 091022s2009 sp rt a000 0 eng c ES-LeU Álvarez, Luis J. The impact of oil price changes on Spanish and euro area consumer price inflation Luis J. Álvarez... [et al.] Madrid Banco de España 2009 Madrid Madrid Banco de España 36 p. 30 cm 36 p. Documentos ocasionales / Banco de España, Servicio de Estudios ISSN 1696-2222 2009-04 This paper assesses the impact of oil price changes on Spanish and euro area consumer price inflation. We find, consistently with recent international evidence, that the inflationary effect of oil price changes is limited, even though crude oil price fluctuations are a major driver of inflation variability. The impact on Spanish inflation is found to be somewhat higher than in the euro area. Direct effects are increasing over time, reflecting the higher spending of households on refined oil products, whereas indirect ones, defined in broad terms, are losing importance Texto completo disponible también en Internet, en formato PDF Álvarez, Luis J. Banco de España. Servicio de Estudios Documentos ocasionales (Banco de España. Servicio de Estudios)