The latest forecasts of the main international institutions and private analysts indicate that price growth in the euro area will remain high this year and then fall considerably in 2023, returning to levels consistent with the European Central Bank’s definition of monetary stability, namely inflation at 2 per cent in the medium term (Figure 3).
Consumer associations and representatives at the European level and, if necessary, at the national level, were asked to inform the Commission of any events where it is likely that the banks’ practices will deviate from the recommendation and the suggested measures. The Commission’s appeal to retailers has already borne fruit. Dual display of prices can now be seen in most shops.