Consumer price adjustment under the microscope: Germany in a period of low inflation

Arbeitspapier

We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index that covers the years 1998 to 2003. We strong find evidence of time- and statedependent price adjustment. Most importantly, the differences in “unconditional” sectoral price flexibility are found to be linked to input price volatility.

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• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ECB Working Paper ; No. 652

Classification and Topics

• Classification: Wirtschaft ; Price Level; Inflation; Deflation ; Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection ; Production, Pricing, and Market Structure; Size Distribution of Firms
• Subject: consumer price index ; Germany ; price flexibility ; price rigidity ; Verbraucherpreisindex ; Preisrigidität ; Preis ; Inflation ; Deutschland ; Flexibilität

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Hoffmann, Johannes ; Kurz-Kim, Jeong-Ryeol
• Event: Veröffentlichung
• (who): European Central Bank (ECB)
• (where): Frankfurt a. M.
• (when): 2006

Further information

• Handle: http://hdl.handle.net/10419/153086