The article introduces a new way to estimate how inflation changes over time, called a "hybrid" New Keynesian Phillips Curve. This method looks at three different markets - monetary and financial, international, and labor - to see how they affect inflation. The results show that all three markets play a role in inflation, but changes in the labor market and short-term economic fluctuations have a bigger impact. Tests suggest that this new approach is better than the traditional method at predicting inflation.