When looking at unit labour costs, it is also noticeable that a number of euro area countries which experienced significant increases in unit labour costs since their entry into the euro area, also show relatively high current account deficits. National authorities have an important responsibility to contribute to moderate price and unit labour costs developments.
Lower prices help all consumers but may be especially helpful to those with tight budgets. Indeed, a number of the large, import-intensive retail chains in the United States are focused on low- and moderate-income consumers, who benefit from being able to buy a wide variety of lower-priced goods.