Headline inflation as measured by the Harmonised Index of Consumer Prices (HICP) continued 1/8  BIS central bankers' speeches  to increase both in December 2021 and in January 2022, when it reached a new historical high of 5.1% (Slide 2). In January, euro area inflation surprised to the upside for the seventh consecutive month.
Giving consumers and businesses what they need and what they want is no easy task, but it is an inescapable one. Those who do not innovate will be left behind in today’s globally competitive world.