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Normalize the monetary policy of the ECB

Since mid-2021, inflation has maintained a clear upward trend.

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Normalize the monetary policy of the ECB

Since mid-2021, inflation has maintained a clear upward trend. This trend has intensified in recent months, mainly as a result of the war in Ukraine. In the euro area, inflation reached 7.5% in April 2022, which is the maximum value since its creation.

Although most of this increase has been due to the rebound in energy prices and, to a lesser extent, food prices, core inflation, which reflects more stable prices, has also risen appreciably, reaching

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