Template-Type: ReDIF-Paper 1.0
Author-Name: Deniz Igan
Author-X-Name-First: Deniz
Author-X-Name-Last: Igan
Author-Name: Emanuel Kohlscheen
Author-X-Name-First: Emanuel
Author-X-Name-Last: Kohlscheen
Author-Name: Gabriela Nodari
Author-X-Name-First: Gabriela 
Author-X-Name-Last: Nodari
Author-Name: Daniel Rees
Author-X-Name-First: Daniel
Author-X-Name-Last: Rees
Title: Commodity market disruptions, growth and inflation
Abstract: Higher commodity prices will erode global growth, as the modest growth boost for commodity exporters will only partly offset the output losses of commodity importers.
Rising commodity prices will also intensify global inflationary pressures. The effects will be strongest for food and energy prices, but spillovers to other components of inflation are likely.
Recent shocks have been smaller than the 1970s oil shocks but broader-based, encompassing food and industrial commodities as well as energy. Nonetheless, structural changes, as well as stronger policy frameworks and nominal anchors, make stagflation less likely to return.
Length: 9 pages
Creation-Date: 2022-05-18
File-URL: https://www.bis.org/publ/bisbull54.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/bisbull54.htm
File-Format: text/html
Number: 54
Handle: RePEc:bis:bisblt:54