- Price pressures in the services sector are broad-based and global
- Pass-through of higher wages to producer prices is stronger in the services sector
- Momentum in services remains high and above levels consistent with price stability
- Medium-term inflation projections often clustered around 2% target
- Wage growth expected to slow down as past price shocks unwind
- Private sector forecasts suggest conditions for soft landing remain in place
- Signs that transmission of monetary policy tightening is weakening
It's just a general take on the economy and what's currently playing out in the euro area mostly. There's nothing new to add to the ongoing narrative surrounding the ECB's policy outlook.