Similarly, the risk of wage-price spirals seems so far to be contained, although the requests for elevated wage increases in some euro-area countries, where the labour market is tighter, should be continuously and carefully assessed. In this context, the pricing strategies of companies will also play a central role.
In particular, we will need to closely monitor whether, after the pass-through of the much higher energy costs observed in 2022, firms will allow final prices to reflect the most recent and substantial 21 22 23  See Neri et al. (2022). See Reis (2021).