Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/262904 
Title (translated): 
Energy and food price shocks in the euro area
Authors: 
Year of Publication: 
2022
Citation: 
[Journal:] Wirtschaftsdienst [ISSN:] 1613-978X [Volume:] 102 [Issue:] 6 [Publisher:] Springer [Place:] Heidelberg [Year:] 2022 [Pages:] 438-441
Publisher: 
Springer, Heidelberg
Abstract (Translated): 
The sharp revisions in inflation forecasts are not rooted in analytical flaws, overly hesitant ECB policies or model failures. Energy price shocks of historic dimensions are the key factor. They have ended the prolonged phase of excessively weak inflation with risks now clearly increasing. In contrast to the United States, the euro area shows no signs of overheating or excessive wage increases. Provided second-round effects remain muted, the ECB should proceed gradually given the high war-related uncertainty and the energy-cost related drag on the economy. Monetary policy flexibility is of key importance particularly with regards to sovereign yield differentials.
JEL: 
E31
E44
E52
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.