Increases in German core inflation following the 2007 VAT hike were smaller than expected, leading to speculation about … small increase upon implementation. We find that core inflation rose by 0.36 percentage point in the run up and by a further … in core inflation in 2006-07 at an estimated pass-through of 73 percent. Most of the increase in 2006 was of ge …

inflation everywhere, notably in emerging and developing economies. Global growth is expected to decelerate significantly in the … management. In the major advanced economies, the case for monetary tightening is less compelling, given that inflation …