No. 1524 - Consumer price stickiness in the euro area during an inflation surge

Temi di discussione (Working papers)
by Erwan Gautier, Cristina Conflitti, Daniel Enderle, Ludmila Fadejeva, Alex Grimaud, Eduardo Gutiérrez, Valentin Jouvanceau, Jan-Oliver Menz, Alari Paulus, Pavlos Petroulas, Pau Roldan-Blanco and Elisabeth Wieland
March 2026
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The paper provides new evidence on price flexibility during period of sharply rising inflation. To this end, it uses a database with 190 million consumer prices collected between 2021 and 2024 in several euro area countries.

In 2022, when consumer inflation recorded sharp increases, both the frequency of price changes and the share of upward revisions rose, while the average size of price adjustments remained almost unchanged. The increase in inflation was therefore driven by more frequent price increases rather than by larger ones. In 2023-24, the frequency of revisions gradually returned to pre energy crisis levels, more quickly for food products than for services.

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  1. 17 March 2026
    No. 1524 - Consumer price stickiness in the euro area during an inflation surge
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