ECB economists say energy-price shock smaller than 2021-22
ECB economists said the eurozone’s current energy-price jump tied to the Middle East conflict is smaller than the 2021-22 energy shock, helped by a softer link between wholesale prices and consumer bills.
ECB economists said eurozone energy prices have risen this year because of the Middle East conflict, but the move has been smaller than the 2021-22 price shock. They said the smaller impact has been helped by a weaker pass-through from wholesale prices to consumer bills, in an economic bulletin. The effect of wholesale gas prices on wholesale elect…