Table 7 Estimates of the exchange rate pass-through to consumer prices for Services
Product category | Pre-trend difference | Standard DID estimate | Synthetic DID estimate | Implied pass-through |
|---|---|---|---|---|
All-items HICP | 0.01 | \(-\)1.64\(^{***}\) | \(-\)1.23\(^{**}\) | 0.12 |
(0.04) | (0.26) | (0.48) | ||
Services (overall index) | 0.11\(^{**}\) | \(-\)2.05\(^{***}\) | \(-\)1.02 | 0.1 |
(0.05) | (0.54) | (0.64) | ||
Accommodation services | 1.28\(^{***}\) | \(-\)5.89\(^{**}\) | \(-\)1.53 | 0.15 |
(0.32) | (2.54) | (1.19) | ||
Audio–visual equipment repair | 0.12\(^{*}\) | \(-\)5.13\(^{***}\) | \(-\)4.92\(^{***}\) | 0.49 |
(0.06) | (1.9) | (1.36) | ||
Cleaning, repair, and hire of clothing | 0 | \(-\)1.07\(^{***}\) | \(-\)0.29 | 0.03 |
(0.02) | (0.4) | (0.6) | ||
Communications | \(-\)0.08\(^{**}\) | \(-\)0.06 | \(-\)1.36 | 0.13 |
(0.04) | (0.38) | (1) | ||
Cultural services | 0.08\(^{***}\) | \(-\)2.92\(^{***}\) | \(-\)1.25 | 0.12 |
(0.01) | (0.5) | (0.86) | ||
Education | 0.18\(^{***}\) | \(-\)2.04\(^{*}\) | \(-\)0.17 | 0.02 |
(0.03) | (1.15) | (0.38) | ||
Health | 0.13\(^{***}\) | \(-\)1.36\(^{***}\) | \(-\)0.32 | 0.03 |
(0.02) | (0.17) | (0.8) | ||
Maintenance and repair of the dwelling | 0.07\(^{**}\) | \(-\)1.6\(^{***}\) | \(-\)0.15 | 0.02 |
(0.03) | (0.51) | (0.4) | ||
Package holidays | 0.43 | \(-\)10.17\(^{***}\) | \(-\)6.94\(^{**}\) | 0.69 |
(0.61) | (3.16) | (3.41) | ||
Passenger transport by air | 0 | \(-\)4.15 | \(-\)4.93 | 0.49 |
(1.22) | (7.36) | (7.2) | ||
Recreational and cultural services | 0.05\(^{***}\) | \(-\)1.65\(^{***}\) | \(-\)0.29 | 0.03 |
| Â | (0.01) | (0.47) | (0.98) | Â |
Restaurants and hotels | 0.35\(^{***}\) | \(-\)3.08\(^{***}\) | \(-\)1.5\(^{*}\) | 0.15 |
(0.05) | (0.21) | (0.81) | ||
Restaurants and café | 0.13\(^{***}\) | \(-\)2.41\(^{***}\) | \(-\)0.77 | 0.08 |
(0) | (0.56) | (0.53) | ||
Services related to housing | 0.11\(^{***}\) | \(-\)2.33\(^{***}\) | \(-\)0.46 | 0.05 |
(0.01) | (0.6) | (0.56) | ||
Services related to holidays and accommodation | 0.77\(^{*}\) | \(-\)7.94\(^{***}\) | \(-\)3.31 | 0.33 |
(0.4) | (2.34) | (2.65) | ||
Services related to recreation and personal care | 0.11\(^{***}\) | \(-\)2.15\(^{***}\) | \(-\)0.57 | 0.06 |
(0.01) | (0.5) | (0.46) | ||
Services related to transport | \(-\)0.03 | \(-\)1.14 | \(-\)0.78 | 0.08 |
(0.19) | (1.28) | (1.36) | ||
Telephone and telefax services | \(-\)0.1\(^{***}\) | 0.96\(^{**}\) | \(-\)0.99 | 0.1 |
(0.04) | (0.38) | (1.39) | ||
Transport insurance | 0.18\(^{***}\) | \(-\)4.5\(^{***}\) | \(-\)0.19 | 0.02 |
(0.01) | (0.87) | (1.03) | ||
Miscellaneous services | 0.05\(^{***}\) | \(-\)1.4\(^{***}\) | \(-\)0.73\(^{*}\) | 0.07 |
(0.01) | (0.41) | (0.41) |