The study looked at how changes in exchange rates affect prices in CIS countries. They used data from 1999 and found that exchange rate movements have a big impact on prices in these countries. The effects are usually seen in less than a year. Unlike other countries, US prices don't have a big impact on domestic prices in CIS countries. The exchange rate pass-through is higher in CIS countries compared to other emerging markets. This means that policymakers in CIS countries need to pay more attention to exchange rate changes.