from Kosova Press
Inflation has returned in Europe and the US, after years of low price growth, worrying governments, the population and central banks, gradually unaccustomed to this phenomenon, synonymous with economic uncertainty and lower living standards.
Toothpaste
“Inflation is like toothpaste that, once it’s out of the tube, it’s almost impossible to put it back in,” warned the German Karl-Otto Pohl, president of the Bundesbank, in 1980.
This postulate was somewhat forgotten, because since the creation of the common currency and until the Covid-19 pandemic, price increases were low in the Eurozone, even below the 2% target set by the ECB since the financial crisis of 2008 .
But, the crisis reappeared last summer with the acceleration of inflation.