Forecasting Food Price Inflation in Developing Countries with Inflation Targeting Regimes: the Colombian Case

Borradores de Economia
Number: 
409
Published: 
Classification JEL: 
C22, E31, Q11
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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Many developing countries are adopting inflation targeting regimes to guide monetary policy decisions. In such countries the share of food in the consumption basket is high and policy makers often employ total inflation (as opposed to core inflation) to s