01609cas a2200241 a 4500 AALejournalIMF009994 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451953084 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Commodity Prices As a Leading Indicator of Inflation. Washington, D.C. : International Monetary Fund, 1988. 1 online resource (46 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Commodity prices may be a leading indicator of inflation, because of the relative importance of flexible auction markets for the determination of these prices. Empirical tests using data for the large industrial countries as a group suggest that changes in commodity prices tend to lead those in consumer prices, and that the inclusion of commodity prices significantly improves the fit of regressions of a multi-country consumer price index. However, there does not appear to be a reliable long-run relationship between the level of commodity prices and the level of consumer prices. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1988/087 Full text available on IMF http://elibrary.imf.org/view/journals/001/1988/087/001.1988.issue-087-en.xml IMF e-Library