Assessment of the Impact of Hard Commodity Prices Changes on Inflation in European Union Countries
| Autor: | Algita Miečinskienė, Indrė Lapinskaitė |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Inflation
General price level Strategy and Management media_common.quotation_subject Commodity Rinka. Rinkodara / Market. Marketing Monetary economics Positive correlation Žaliavų kainos Lietuva (Lithuania) Granger causality Management of Technology and Innovation Long period 0502 economics and business Economics media_common.cataloged_instance Price level Business and International Management European union media_common Bendrasis kainų lygis 05 social sciences Ekonominė padėtis / Economic conditions Commodity exchange market Commodity prices Bendras kainų lygis Žaliavų mainų rinka 050211 marketing Europos Sąjungos šalys (European Union countries) 050203 business & management Case analysis |
| Zdroj: | Central European business review [CEBR]. 2019, 8, 5, p. 18-35. |
| ISSN: | 1805-4862 1805-4854 |
| DOI: | 10.18267/j.cebr.230 |
| Popis: | This article analyses the impact of the changes in hard commodity prices in the world commodity exchanges on the variation of countries’ general price level. In other words, this article aims to determine the impact of hard commodity prices changes on inflation. In this paper, all countries of the European Union (EU) are included in the research, and case analysis is done accordingly. The methodology applied is the following: a study of the recent scientific literature, processing and systemization of statistical data, correlation analysis and Granger causality test. The results of the research show that price changes of selected commodities in world commodity exchanges have no absolute dependence on the variation of the general price level in EU countries in the long period. Natural gas should be distinguished, whose price fluctuations in the commodity exchange market show a positive correlation with 14 EU countries’ CPI changes. In addition, the research shows that Lithuania’s inflation has been affected by all five selected commodities’ prices fluctuations. UK and Romanian inflation relate to four of five selected commodities’ prices fluctuations. |
| Databáze: | OpenAIRE |
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