By comparison, M. Bils and P. Klenow (2005), in “Some evidence on the importance of sticky prices”, Journal of Political Economy 112, calculate that the average duration of CPI prices in the United States is 2.2 quarters. Other Phillips curve-based analyses broadly confirm these results.
For the euro area, see J. Galí, M. Gertler and D. López-Salido (2001), “European inflation dynamics”, European Economic Review 45(7), and J. Gáli, M. Gertler and D. López-Salido (2003), “Erratum”, European Economic Review 47(4). 4  Allowing for methodological differences in price-collecting procedures across statistical institutes, it emerges that differences in the frequency of price adjustments can be due to various causes.