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In this paper, the authors present evidence on the statistical features of observed dispersion in HICP inflation rates in the Euro area. The descriptive exercise shows that there is still a remarkable dispersion of HICP inflation rates across the member countries. They find that most of dispersion originates in the non-traded categories of the HICP. This suggests that the main source of dispersion in countries' headline inflation rates is in those components of the HICP where non-traded goods (services, (public) goods with regulated and administered prices) are more intensely represented.
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