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The stabilization of economic activity represents the basic purpose of macroeconomic policy. In the last few years, the achievement of price stability, or the relatively low and stable inflation rate, has been imposed as the policy's main goal, in accordance with the recommendations of the so-called New consensus macroeconomics. In line with that, the identification of variables, which determine the inflation rate and cause its changes, is crucial. From its occurrence, the relationship of thedoi:10.22190/teme180702037m fatcat:oudjxk6i4jbalhellrwt2latfq