Advances and Applications in Statistics
Volume 52, Issue 1, Pages 33 - 54
(January 2018) http://dx.doi.org/10.17654/AS052010033 |
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WORLD CRUDE OIL PRICES IMPACT ON CONSUMER PRICE INDEX
Doan Van Dinh
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Abstract: The fluctuation of global oil prices impacts on the domestic oil prices of the developed and developing countries. Because the rising oil prices make the cost of the product increase, leading to price fluctuation of commodities and products. This is one of the causes that influences the consumer price index due to “cost-push inflation”. The objective of the article is to research the oil prices impact on consumer price index (CPI) in the developed and developing countries to assess the difference between them. The author uses regression models, correlation tests, etc., the data of oil prices and CPI are used from 2000 to 2016 to assess the relationship between them and forecast the two countries’s CPI in future. The results evaluated on the importance of oil prices impact on CPI. This is evident that the developed and developing countries have the different impact on each country’s CPI. The evaluation helps macro management and policymakers have a comprehensive view. |
Keywords and phrases: CPI, the price of fuel, products, commodities, cost-push inflation. |
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