As for price developments, after hovering at levels well below 1% for three years, with occasional dips into negative territory, euro area headline inflation edged higher towards the end of last year and reached 2% in February. This upward movement of inflation mainly reflects increases in energy and food prices.
BIS central bankers’ speeches  1  While acknowledging that the challenges facing agriculture are huge given the growing population, declining land sizes, climate change that has imposed severe costs on the sector, all of which compound the problem of financing agriculture, the challenges are not insurmountable, if we work together.