Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152766
Authors: 
Dias, Mónica
Dias, Daniel
Neves, Pedro D.
Year of Publication: 
2004
Series/Report no.: 
ECB Working Paper 332
Abstract: 
This paper identifies the empirical stylized features of price setting behaviour in Portugal using the micro-datasets underlying the consumer and the producer price indexes. The main conclusions are the following: 1 in every 4 prices change each month; there is a considerable degree of heterogeneity in price setting practices; consumer prices of goods change more often than consumer prices of services; producer prices of consumption goods vary more often than producer prices of intermediate goods; for comparable commodities, consumer prices change more often than producer prices; price reductions are common, as they account for around 40 per cent of total price changes; price changes are, in general, sizeable; finally, the price setting patterns at the consumer level seem to depend on the level of inflation as well as on the type of outlet.
Subjects: 
consumer prices
frequency of price changes
price setting
producer prices
JEL: 
E31
E32
L11
Document Type: 
Working Paper

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