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Measuring Domestically Generated Inflation

Author

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  • Alexey Ponomarenko

    (Bank of Russia, Russian Federation)

Abstract

In 2014-2015, inflation acceleration was driven mainly by external factors. As they were exhausted, CPI growth decreased predictably. At the same time, our estimates show that domestic factors currently fail to ensure a decline in the price growth to 4% in 2017. A slowdown in the growth rate of the wide range of domestic nominal indicators is necessary in order that the Bank of Russia may achieve its inflation target. Otherwise, further inflation deceleration may prove to be unsustainable in the medium term.

Suggested Citation

  • Alexey Ponomarenko, 2016. "Measuring Domestically Generated Inflation," Bank of Russia Working Paper Series note2, Bank of Russia.
    • Handle: RePEc:bkr:wpaper:note2
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    References listed on IDEAS

    as
    1. repec:zbw:bofitp:2015_024 is not listed on IDEAS
    2. Elena Deryugina & Alexey Ponomarenko & Andrey Sinyakov & Constantine Sorokin, 2018. "Evaluating underlying inflation measures for Russia," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 11(2), pages 124-145, May.
    3. Vetlov, Igor & Pisani, Massimiliano & Hlédik, Tibor & Jonsson, Magnus & Kucsera, Henrik, 2011. "Potential output in DSGE models," Working Paper Series 1351, European Central Bank.
    4. Warne, Anders & Coenen, Günter & Christoffel, Kai, 2008. "The new area-wide model of the euro area: a micro-founded open-economy model for forecasting and policy analysis," Working Paper Series 944, European Central Bank.
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