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April 2012

Impact of commodity price movements on CPI inflation

Richa Ajmera, Nancy Kook, Jeff Crilley

An analysis of price movements of four commodities–crops, animal slaughter and processing, dairy, and oil and gas– reveals that only oil and gas prices had a considerable impact on CPI inflation; thus, even large increases in the prices of the first three of these commodities do not necessarily contribute substantially to inflation.

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