Anastasia Allayioti

Jan 9, 2025 | ecb.europa.eu | Martinez Hernandez |Anastasia Allayioti |Bruno Fagandini |Catalina Hernandez

Published as part of the ECB Economic Bulletin, Issue 8/2024. Monetary policy affects consumer prices through a number of channels, while its impact, in terms of both speed and magnitude, varies across consumption categories. The post-pandemic inflation surge was a result of an unprecedented combination of shocks, including supply chain disruptions, energy shocks and the pent-up demand from the re-opening of the economy.