Initially, the effects of such factors emerged mostly in the form of a rise in producer prices. However, since last summer, a passthrough of cost increases to selling prices at the retail level has also started to be observed, and moves to raise prices, particularly of food, have rapidly become widespread (Chart 7).
See “Study on the payment attitudes of consumers in the euro area (SPACE)”, ECB, Frankfurt am Main, December 2020. 3. ibid. 4.