Composite Indicators of Inflationary Pressures

11 Pages Posted: 23 Oct 2018

Date Written: October 18, 2018

Abstract

This article analyses a broad set of relevant variables for monitoring inflationary pressures in the Spanish economy. On the basis of these variables, composite indicators are calculated that proxy inflation expectations, the degree of slack in the economy and other inflation pressures, domestic and external alike. On the information analysed, the recent period of low inflation in the Spanish economy is estimated to have come about in a setting in which domestic factors particularly eased, with a notable reduction in inflation expectations.

Keywords: inflation, inflation expectations, economic cycle, composite indicators

JEL Classification: E31, E32

Suggested Citation

Álvarez, Luis J. and Sánchez-García, Isabel, Composite Indicators of Inflationary Pressures (October 18, 2018). Banco de Espana Article 20/18. Available at SSRN: https://ssrn.com/abstract=3269741

Luis J. Álvarez (Contact Author)

Banco de España ( email )

Madrid 28014
Spain

Isabel Sánchez-García

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

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