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In this paper, we derive the dynamics of inflation from the various price adjustment scenarios encountered in neo-Keynesian literature. For each model, we will calculate inflation and product response following a money supply shock on the economic growth rate. Our observation will reveal that only two models correctly reproduce the stylized facts associated with this kind of money supply shock: the first model is Mankiw and Reis’s model with predetermined prices (2002), and the second model is the fixed-price model of Gali and Gertler (1999). None of the other alternatives, including the fixed-price model of Fuhrer and Moore (1995), are able to reproduce correctly a sufficient persistence of inflation. This shows that in the fixed-price model, the structure of rigidity chosen is as important for the degree of inflation persistence as the presence or absence of inflation lags is in the dynamic model.