Latest articles and blogs
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Productivity and energy costs are weaknesses in euro area competitiveness
Economic growth in the euro area has been undermined in recent years by the erosion of competitiveness in relation to the United States and China. This has been mainly attributable to the subdued growth in labour productivity and the fact that energy has remained significantly more expensive than in competitor countries.
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Wage indicators under scrutiny: What can they reveal about services inflation in the euro area?
Wage inflation is one of the most significant factors affecting consumer price inflation, and its impact is strongest in the service industries. Wage inflation in the euro area is monitored using a variety of indicators that complement each other.
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What factors have influenced the dynamics of euro area prices and wages?
The anchoring of expectations and the moderation of energy and food inflation are contributing to reducing the rate of inflation. The tight labour market and the rise in wages to compensate for higher prices are nevertheless still keeping inflation above the 2% target.
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Monetary policy measures have strengthened the anchoring of inflation expectations
Inflation expectations are of key significance for price trends. Expectations regarding the future rate of inflation will affect price setting by businesses and the wage demands of employees.
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Inflation expectations help in analysing the euro area inflation outlook
Inflation expectations play a key role in inflation projections. Different measures of inflation expectations point towards inflation remaining below the ECB's 2% target in the coming years.
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Corona crisis has increased the risk of stagnation in the euro area
Is the euro area drifting into a liquidity trap (a combination of low interest rates and low inflation) as a consequence of the corona crisis? There is a heightened risk of this, but the policy measures taken are preventing negative trends.
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Reports of the Phillips curve's death are greatly exaggerated
Euro area inflation has been slow in recent years. The way slow inflation was explained before the crisis has been challenged.
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Is Finland following the same path as Japan?
Finland is now facing problems similar to those with which Japan has already struggled for more than a decade. The population is ageing and the public finances are moving deeper into debt.
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Abenomics: three years – the big ship turns slowly
Japan’s economy has so far been growing sluggishly, but the deflationary trend has been successfully cut and structural reforms taken forward.