The ECB revised higher their inflation forecasts yesterday and their growth lower. The German PPI data showed the highest y/y reading since 1951 and energy prices were largely to blame. As Adam pointed out yesterday energy prices are still high, so that means it is possible these pressures stay.
Also, remember that inflation has the potential to become systemic regardless of the causes. Higher prices are higher prices. Villeroy content that to think this is probably the peak, or close to it.
