contributed to a reduction in the pass-through to various price indexes (import prices, producer prices and consumer prices) from …

the conventional wisdom that ERPT into both import and consumer prices is always higher in quot;emergingquot; than in quot …;developedquot; countries. For emerging markets with only one digit inflation (most notably the Asian countries), passthrough to import and … import openness and ERPT, while plausible theoretically, finds only weak empirical support …