Twelve-month production price inflation accelerated from a low point of 7,8 per cent in September 2001 to a doubledigit rate of 11,5 per cent in January 2002 and eventually reached a maximum of 15,4 per cent in both August and September 2002.
Consumer prices tend to lag a bit behind production prices, and this is  2  BIS Review 13/2003  indeed what happened again: Twelve-month CPIX inflation accelerated from a low point of 5,8 per cent in September 2001 to double-digit rates from August 2002 and recorded a recent highest level of 12,7 per cent in November 2002.