Notably, from Q4 onwards, it is forecast to be running above the mid-point of the medium-term inflation target (3%).   Demand-side pressures are expected to build up in future because of rising business activity at a time when international commodity prices are themselves continuing on an increasing trend.
Labor mobility and the moderation of consumer lending are complementary means. In view of the fact that labor mobility in the euro zone has been much lower than what is customary in a federation of states such as the United States, homologized labor laws in the euro area seem warranted.