The article looks at how changes in commodity prices affect the economy. It suggests that focusing on core inflation rather than headline inflation is a better strategy for central banks. This means looking at inflation without including volatile prices like food and energy. The study shows that targeting expected headline inflation can also work. When wages are inflexible, the effects of commodity price shocks are stronger, leading to higher inflation and lower output. Overall, the research suggests that central banks should pay more attention to core inflation to stabilize the economy during commodity price shocks.