International Influences on U.S. Inflation

Bell, River; Jordà, Òscar; Nechio, Fernanda; Poduri, Aditi; Stewart, Stephanie

Journal Article

International Influences on U.S. Inflation

Abstract: The COVID-19 inflation surge experienced abroad undoubtedly left its mark on U.S. inflation. As global economies return to business as usual, it is natural to ask whether international considerations continue to affect U.S. inflation. Recent analysis shows that, although in normal times the international component of U.S. inflation is usually small, at other times it can contribute significantly to U.S. inflation dynamics.

Keywords: inflation; covid19; inflation dynamics; international; Australia; Belgium; Canada; Denmark; France; Ireland; Italy; Japan; Luxembourg; Netherlands; Portugal; Sweden; United Kingdom;