A cost-of-living crisis: Inflation during an unprecedented terms of trade shock - speech by Swati Dhingra

Given at the Resolution Foundation
Published on 08 March 2023
Swati Dhingra explains how the recent terms of trade shock has affected inflation. She discusses why this shock is unprecedented, and the role of supply chains in transmitting the shock. Swati analyses the direct and indirect effects of higher energy prices on domestic price growth. She reviews the outlook for inflation and explains how this influences her monetary policy strategy.