摘要:This brief essay presents some notes for a commodities net-exporting economy, with regard to relationshipsbetween exchange rate, consumer inflation and Central Bank’s reactions facing inflation targets. A theoreticalmodel is presented, which can easily serve as a reference for empirical purposes. Additionally, a simpleGraphical analysis allows for making the underlying issues clear and can be used effectively for teaching apolitical economy of the commodities prices. Finally, some remarks for empirical research are suggested