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CPI Exchange Rate Pass-Through Decomposition and Distribution Margins: The Case of Brazil versus Advanced Economies

Camila Ciss Abdelmalack, Camila F.S. Campos


We analyze the channels through which the exchange rate af-
fects nal consumer prices. We compare advanced countries with
one emerging economy, Brazil, to determine the corresponding ex-
change rate pass-through and its channels. A key aspect to the
exchange rate pass-through is the relative importance of tradables
in the consumption basket as well as the share of imported inputs.
Since non-tradables are usually cheaper in developing economies,
the share of non-tradeables is smaller in theses countries. We il-
lustrate this scenario using data from Brazil vis-a-vis a group of
advanced economies.


exchange rate pass-through; imported inputs

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ISSN 0034-7140 (print) ISSN 1806-9134 (online)