6 As regards the design of the transfer mechanism used to validate transactions, the  Eurosystem will further explore a digital euro solution in which transactions would be made online and would be validated by a third party, as well as a peer-to-peer validated solution for offline payments.
This is largely a reflection of such factors as the reduction in mobile phone charges in April. When excluding these temporary effects, the rate of increase would rise to around 1.5 percent, and its pace has accelerated recently, mainly due to the rise in energy prices (Chart 8).