The theme of this year’s conference is “Adapting to the New Normal: Perspectives and Policy Challenges after the COVID-19 Pandemic.” More than a year has passed since the outbreak of the pandemic, during which time it has caused enormous loss and damage to people all over the world.
To give you an example, the difference between the highest and the lowest annual national HICP inflation rate increased to 3.8 percentage points in July 2000, from an average of less than 2 percentage points recorded during 1998 and 1999. The biggest differentials have emerged in product groups such as food and energy.