7/8  BIS central bankers' speeches  Turvey, R. (1999), True Cost of Living Indexes, Paper presented at the 5th Meeting of the Ottawa Group, Reykjavik, 1999. 1 See eg Broda and Weinstein (2008). 2 For  more information on the Data www.imf.org/external/np/g20/pdf/2016/090216.pdf  Gaps  Initiative,  see  the  IMF  paper  at  3 See Deutsche Bundesbank (2017).
Unfortunately, if we want to control inflation in the face of an adverse supply price shock, some costs in terms of lower real growth cannot be avoided. However, we expect that real GDP growth will climb towards 6 percent over the medium term.