Rising import prices are hitting the real economy
Kärkkäinen, Samu (28.10.2022)
Volyymi
96Numero
3/2022Julkaisija
Bank of Finland
2022
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-202210311421Tiivistelmä
The euro area is a net energy importer. In 2020 slightly over 60% of the euro area’s gross available energy was imported from elsewhere. Soaring energy prices have pushed up import prices for euro area countries. This article examines some of the effects of rising import prices on the euro area economy. Empirical analysis suggests that positive import price shocks, or sudden and unexpected rises in import prices, are passed on to consumer prices quickly but have a slower impact on the real economy. Nevertheless, Member States are likely to experience differences in the size and transmission of these effects.
Julkaisuhuomautus
The accessible version https://www.bofbulletin.fi/en/2022/3/rising-import-prices-are-hitting-the-real-economy/