In recent months, headline inflation has started to come down in most jurisdictions, largely reflecting lower energy prices. By contrast, core inflation rates remain sticky. The lagged effects of energy, food and other cost increases are still feeding through to wages, services prices and many final prices.
1  Cut off date for data end of August 2009. BIS Review 121/2009  1  This simplistic OCA approach has been criticized from several angles. In particular the set-up is static, neglecting the dynamics that the introduction of a common currency sets in motion.