Volatility of the international commodity market and its relationship with inflation in Peru

Authors

DOI:

https://doi.org/10.15381/quipu.v30i63.24054

Keywords:

inflation, commodities, volatility, GDP, employment

Abstract

Objective: To determine the relation between the volatility of the prices of international commodities and the inflation rate, and the collateral effects on the Gross Domestic Product (GDP) and the generation of employment. Method: The approach was quantitative, and the level was correlational. Given the normality of the data, by the non-parametric Kolmogorov-Smirnov (K-S) contrast, which p-value result in all cases was greater than 5%, the Pearson test was used to determine the degree of relation between the variables under analysis. The used data was obtained from official sources only, such as the Central Reserve Bank of Peru, the International Monetary Fund, the Food and Agriculture Organization of the United Nations, and Petroperu, covering the period from January 2021 to June 2022, including the phase that involved the global crisis. Results: The volatility of cereal and fuel prices exerted moderate pressure on inflation, the effect of which did not translate into negative changes in GDP and employment; on the contrary, these macroeconomic variables managed to advance despite the volatility of the inflation rate. Conclusion: The volatility of the prices of international commodities, due to the supply shock, generated some influence on inflation; however, the economic growth figures and a labor market with job openings are maintained.

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Author Biographies

  • Nicko Alberto Gomero Gonzales, Universidad Nacional Mayor de San Marcos. Lima, Peru

    Economist from Universidad Inca Garcilaso de la Vega. Master in Accounting with mention in Banking and Finance from Universidad Nacional Mayor de San Marcos (UNMSM). PhD in Economics from Universidad Inca Garcilaso de la Vega. Master's degree in University Teaching and Research at Universidad Nacional del Callao. Diploma in Investment Projects. Senior Lecturer at UNMSM, School of Accounting. 

  • José Antonio Villacorta Huapaya, Universidad Nacional Mayor de San Marcos. Lima, Peru
    Doctor in Administration. Graduate in Master in Public Management. Second specialization in Public Administration. University professor appointed as associate professor of undergraduate and graduate courses at the Universidad Nacional Mayor de San Marcos. Undergraduate and graduate thesis advisor. Specialized in Public Management, Human Resources, Advertising, Administration.       Doctor in Administration. Graduate in Master in Public Management. Second specialization in Public Administration. University professor appointed as associate professor of undergraduate and graduate courses at the Universidad Nacional Mayor de San Marcos. Undergraduate and graduate thesis advisor. Specialized in Public Management, Human Resources, Advertising, Administration.        
  • Pablo Raúl Oviedo Velásquez, Universidad Peruana de Ciencias Aplicadas, Lima, Peru

    Master in Administration with mention in Finance and Investment Project Formulation and Evaluation from Universidad ESAN and Bachelor in Economics from Universidad del Pacífico. With extensive professional experience in both the private and public sector in the areas of finance, management and operations. Currently coordinator at the General Directorate of Financial Markets and Private Pension System of the Ministry of Economy and Finance, and university professor.

     

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Published

2022-11-28

Issue

Vol. 30 No. 63 (2022)

Section

Original papers

License

Copyright (c) 2022 Nicko Alberto Gomero Gonzales, José Antonio Villacorta Huapaya, Pablo Raúl Oviedo Velásquez

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

AUTHORS RETAIN THEIR RIGHTS:

a. Authors retain their trade mark rights and patent, and also on any process or procedure described in the article.

b. Authors retain their right to share, copy, distribute, perform and publicly communicate their article (eg, to place their article in an institutional repository or publish it in a book), with an acknowledgment of its initial publication in Quipukamayoc .

c. Authors retain theirs right to make a subsequent publication of their work, to use the article or any part thereof (eg a compilation of his papers, lecture notes, thesis, or a book), always indicating the source of publication (the originator of the work, journal, volume, number and date).

How to Cite

Gomero Gonzales, N. A., Villacorta Huapaya, J. A., & Oviedo Velásquez, P. R. (2022). Volatility of the international commodity market and its relationship with inflation in Peru. Quipukamayoc, 30(63), 29-37. https://doi.org/10.15381/quipu.v30i63.24054