Germany's CPI inflation stood at 6.1% in May 2023 and was thus more than one percentage point lower than in April 2023 … (7.2%). Food prices contributed slightly less to inflation, but at 2.1 percentage points still almost seven times as much … over the past 12 months ( 14.2%). Core inflation excluding energy, food, alcohol, and tobacco also declined and stood at 5 …

This paper argues that the Balassa-Samuelson effect is not of importance for the inflation target of the ECB. First … Balassa-Samuelson effect could, at least in theory, be used to justify an inflation target well above zero, thedifference in …