Economic, financial and monetary developments

From ecb.europa.eu

High inflation is a major challenge for everyone. The Governing Council will make sure that inflation returns to its 2% target over the medium term. In May inflation again rose significantly, mainly because of surging energy and food prices, including due to the impact of the war in Ukraine. But inflation pressures have broadened and intensified, with prices for many goods and services increasing strongly. Eurosystem staff have revised their baseline inflation projections up significantly. These projections indicate that inflation will remain undesirably elevated for some time. However, moderating energy costs, the ... (full story)