{
  "title": "Inflation Determinants in Paraguay: Cost Push versus Demand Pull Factors",
  "publication": "IMF Working Papers, December 1, 2008",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505",
  "overlayPath": "/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505/index.md",
  "summary": "This article uses two analytical methodologies to understand the dynamics of inflation in Paraguay, the mark-up theory of inflation and the monetary theory of inflation. We also study the impact of different monetary aggregates.",
  "sections": [
    {
      "heading": "Methodologies and Scope",
      "content": "- Analytical approaches used:\n  - Mark-up theory of inflation\n  - Monetary theory of inflation\n- Additional analysis:\n  - Impact of different monetary aggregates"
    },
    {
      "heading": "Key Findings on Inflation Dynamics",
      "content": "- Long-run determinants:\n  - Monetary factors, in particular currency in circulation, play a major role in determining long-run inflation.\n- Short-term dynamics:\n  - Foreign prices, in particular from Brazil, or some food products have a large impact on the short-term dynamics of inflation.\n- Other contributing factors:\n  - Wage indexation may contribute to locking up price increases."
    },
    {
      "heading": "Subjects and Keywords",
      "content": "- Subject: Consumer price indexes, Currencies, Demand for money, Exchange rates, Inflation\n- Keywords: core inflation index, inflation dynamics, monetary aggregate, U.S. dollar, WP\n\n---\n\n Content in this bundle\n\n- wp08270\n  - wp08270 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp08270 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505/bundle-manifest.json)",
    "Authors: Brieuc Monfort, Santiago Peña",
    "Published: December 1, 2008",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451871289.001",
    "Analytical approaches used:",
    "Additional analysis:",
    "Long-run determinants:",
    "Short-term dynamics:",
    "Other contributing factors:",
    "Subject: Consumer price indexes, Currencies, Demand for money, Exchange rates, Inflation",
    "Keywords: core inflation index, inflation dynamics, monetary aggregate, U.S. dollar, WP",
    "**_wp08270**"
  ],
  "related": [
    {
      "title": "_wp08270",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2008/_wp08270.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2008/_wp08270.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2008/_wp08270.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505/index.md",
    "json": "/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/31/inflation-determinants-in-paraguay-cost-push-versus-demand-pull-factors-22505/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T16:17:42.063Z"
}