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Consumer goods and services inflation in Latin America during the COVID-19 pandemic

Author

Listed:
  • Víctor Manuel Cuevas Ahumada
  • Ignacio Perrotini Hernández

Abstract

Consumer goods inflation significantly exceeded consumer services inflation inmany nations during the COVID-19 pandemic. Therefore, this paper evaluates the key driversof goods prices and services prices in eight Latin American countries during that period.To that end, we employ two fixed effects panel data models involving such nations andmonthly data from January 2020 to December 2022. The models’ specification allows for assessingthe impact of fiscal and monetary policies, exchange rate fluctuations, and two pandemic-related variables, on goods prices and services prices. The models are estimatedthrough two-stage least squares complemented with other remedial measures. JEL Classification: C33; C36; E31; F41.

Suggested Citation

  • Víctor Manuel Cuevas Ahumada & Ignacio Perrotini Hernández, 2025. "Consumer goods and services inflation in Latin America during the COVID-19 pandemic," Brazilian Journal of Political Economy, Center of Political Economy, vol. 45(1), pages 24-42.
    • Handle: RePEc:ekm:repojs:v:45:y:2025:i:1:p:24-42:id:2489
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    More about this item

    Keywords

    Consumer goods inflation; consumer services inflation; panel data models; COVID-19 pandemic;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C36 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Instrumental Variables (IV) Estimation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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