Figure 5
The image contains six scatter plots arranged in a 2x3 grid. Each plot shows the impact of minimum wage on inflation for different categories: HICP total, HICP food, and HICP services. The top row of plots shows the minimum wage growth rate impact, while the bottom row shows the minimum wage to mean wage impact. Each plot has a vertical axis labeled with the respective impact measure and a horizontal axis ranging from -0.2 to 0.2. The data points are color-coded by subperiod: blue for 2003-2008, red for 2009-2016, and green for 2017-2022. Each plot includes error bars and significant values marked with asterisks indicating statistical significance levels. The plots show varying impacts of minimum wage changes on inflation across different subperiods and categories.Estimated minimum wage (growth rate and ratio) impact on inflation in subperiods. Source: Own calculations