Journal Article

The Impacts of Supply Chain Disruptions on Inflation

Abstract: Since early 2021, inflation has consistently exceeded the Federal Reserve’s target of 2 percent. Using a combination of data, economic theory, and narrative information around historical events, we empirically assess what has caused persistently elevated inflation. Our estimates suggest that both aggregate demand and supply factors, including supply chain disruptions, have contributed significantly to high inflation.

Keywords: Covid-19; Inflation;

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2023-05-10

Volume: 2023

Issue: 08

Pages: 8

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