The Governing Council confirmed that both, the short-term assessment from economic analysis and the medium- to long-term assessment based on monetary analysis lead to a compound single assessment. This single assessment is the fundament of Governing Council decisions.
The upswing reflected several factors, most of which were temporary and statistical. Headline inflation is likely to increase further in the coming months, but some volatility is expected throughout the year, and the temporary factors are expected to fade out of annual inflation rates early next year.