The European Central Bank (ECB) has so far remained calm on the question of whether this is a temporary development or a sustained one. According to Wieland, whether inflation will solidify depends primarily on so-called second-round effects. "Inflation could solidify in certain areas, especially where there are perhaps personnel bottlenecks and where this then leads to higher wages. Where supply bottlenecks persist and therefore generally lead to price increases in the economy, this inflation may well become entrenched. Of course, central bank policy is the decisive factor.
Deutschlandfunk: "Die Verlierer sind die Armen" (incl. audio)
