Inflation is defined as a process of continuously rising prices and falling purchasing power. In other words, a general and broad-based increase in the price of goods and services over an extended period. The main objective of central banks is to keep prices stable, to preserve the integrity and purchasing power of people's money. The most common inflation indicator measures the average change in the price of a basket of consumer goods and services over time. The closest approximation of what people intuitively understand by the term inflation is the change in their cost of living. Inflation is expected to remain significantly above the euro area inflation target of 2 % for some time, due to continued geopolitical uncertainty and persistent supply bottlenecks.

EPRS policy podcast - Inflation explained: What lies behind and what is ahead?

EP Plenary session - Tackling the inflation in food prices and its social consequences and root causes - Commission statement

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Behovet av att bryta dödläget i rådet avseende direktivet om plattformsarbetare (debatt)

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Frågestund (kommissionen) -  Inflationen i livsmedelspriserna i Europa

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Förberedelser inför Europeiska rådets möte den 15 december 2022

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Hantera krisen med ökade levnadskostnader: höja löner, beskatta vinster, stoppa spekulationer (debatt om en aktuell fråga)

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ECON - State Aid: EU’s reaction to the US Inflation Reduction Act (IRA) -Exchange of views with Paolo GENTILONI, Commissioner for Economy

ECON - Exchange of views with Margrethe Vestager, Executive Vice-President and Commissioner for Competition on State Aid: EU’s reaction to the US Inflation Reduction Act (IRA)

FISC Subcommittee public hearing on ' The role of tax policy in controlling inflation and promoting sustainable growth in the context of economic recovery '

EP Plenary session - Question Time to Commission - Food price inflation in Europe

AGRI committee - Exchange of views with Janusz WOJCIECHOWSKI, European Commissioner for Agriculture, on inflation consequences on the CAP budget

EP Plenary session - EU response to the US Inflation Reduction Act

Understanding inflation dynamics requires an understanding of the underlying concept and how it is measured. Inflation is defined as a process of continuously rising prices and falling purchasing power. In other words, a general and broad-based increase in the price of goods and services over an extended period. The main objective of central banks is to keep prices stable, to preserve the integrity and purchasing power of people's money. The most common inflation indicator measures the average change in the price of a basket of consumer goods and services over time. The Russian war on Ukraine is now likely to cause inflation to increase further, with underlying price pressure broadening and lingering supply-side bottlenecks.

EPRS - Inflation explained

Question Time to Commission - Food price inflation in Europe. Q & A (part 3)

Question Time to Commission - Food price inflation in Europe: Question & Answers (part 3) with Janusz WOJCIECHOWSKI, European Commissioner for Agriculture

Question Time to Commission - Food price inflation in Europe. Q & A (part 2)

Question Time to Commission - Food price inflation in Europe: Question & Answers (part 2) with Janusz WOJCIECHOWSKI, European Commissioner for Agriculture

Question Time to Commission - Food price inflation in Europe. Q & A (part 1) with Janusz WOJCIECHOWSKI, European Commissioner for Agriculture

Question Time to Commission - Food price inflation in Europe: Question & Answers (part 1) with Janusz WOJCIECHOWSKI, European Commissioner for Agriculture

The US Inflation Reduction Act is a huge investment bill pouring over US$369 billion into the American economy. It favours clean energy and technology made in the US or in countries America has a trade agreement with, which is not the case for the European Union. Considering how to integrate its climate, energy and industrial policies, so as to contribute towards climate goals and energy security while retaining the global competitiveness of its economy, the EU proposed a Green deal industrial plan. Restrictions: ©The material may not be edited and must be shown entirely.

EPRS - EU response to the US Inflation Reduction Act

Alongside the humanitarian tragedy of the war in Ukraine, Europe was hit by a substantial shock in import prices that severely dented the economic outlook and aggravated price increases. In particular, soaring energy prices pushed EU inflation to unprecedented levels not reached since the advent of the economic and monetary union. Learn more about inflation, its origins and outlook, with EPRS policy analyst Martin Höflmayr. Restrictions: ©The material may not be edited and must be shown entirely.

MEPs ask Commission Vice-President Vestager and Czech Minister Bek about the measures the EU could take to tackle the massive tax breaks to companies producing in the US, a scheme that puts European industry at a disadvantage. Extracts from the debate.

EU response to the US Inflation Reduction Act: extracts from the debate

MEPs seek answers on how the EU is handling the massive tax breaks to companies producing in the US, a scheme that puts European companies at a disadvantage. The roughly €350 billion Inflation Reduction Act aims to build a new green economy by giving subsidies and tax credits to companies which manufacture with local parts or produce in the US from 1 January 2023, to the detriment of European manufacturers and in potential breach of World Trade Organisation (WTO) rules. Closing statements by by Mikuláš BEK, Czech Minister for European Affairs and Margrethe VESTAGER, Vice-President of the European Commission.

Key debate EU response to the US Inflation Reduction Act: closing statements by by Mikuláš BEK, Czech Minister for European Affairs and Margrethe VESTAGER, Vice-President of the European Commission

MEPs seek answers on how the EU is handling the massive tax breaks to companies producing in the US, a scheme that puts European companies at a disadvantage. The roughly €350 billion Inflation Reduction Act aims to build a new green economy by giving subsidies and tax credits to companies which manufacture with local parts or produce in the US from 1 January 2023, to the detriment of European manufacturers and in potential breach of World Trade Organisation (WTO) rules.

EU response to the US Inflation Reduction Act: MEPs debate

EU response to the US Inflation Reduction Act: one round of political group's leaders

MEPs seek answers on how the EU is handling the massive tax breaks to companies producing in the US, a scheme that puts European companies at a disadvantage. The roughly €350 billion Inflation Reduction Act aims to build a new green economy by giving subsidies and tax credits to companies which manufacture with local parts or produce in the US from 1 January 2023, to the detriment of European manufacturers and in potential breach of World Trade Organisation (WTO) rules. Opening statements by Mikuláš BEK, Czech Minister for European Affairs and Margrethe VESTAGER, Vice-President of the European Commission.

EU response to the US Inflation Reduction Act: opening statements by Mikuláš BEK, Czech Minister for European Affairs and Margrethe VESTAGER, Vice-President of the European Commission

Inflation has risen to levels not seen in 40 years in the euro area or in many other countries. What is being done to keep energy bills down and to help EU citizens deal with the social and economic consequences of the war in Ukraine. This infoclip shows the inflation and reduced purchasing power for consumers. Domestic illustrations with rising cost of living, use of heating, use of electric and gas appliances and illustrations of supermarket, open-air market, petrol station with costumers paying and counting savings.

Infoclip: Inflation and reduced purchasing power for consumers

MEPs discuss with European Central Bank (ECB) President, the European Central Bank work and the state of the EU economy. They focus on inflation and economic recovery. Opening statement by Christine LAGARDE, President of the European Central Bank. Opening statement by Christine LAGARDE, President of the European Central Bank and by Paolo GENTILONI, European Commissioner for Economy.

Annual report 2021 of the European Central Bank: opening statements by Christine LAGARDE, President of the European Central Bank and by Paolo GENTILONI, European Commissioner for Economy

MEPs discuss with European Central Bank (ECB) President Christine LAGARDE, the European Central Bank work and the state of the EU economy. They focus on inflation and economic recovery. Opening statement by Dimitrios PAPADIMOULIS (The Left, EL), Rapporteur.

Annual report 2021 of the European Central Bank: opening statement by Dimitrios PAPADIMOULIS (The Left, EL), rapporteur

Europeiska centralbankens ordförande förde med sig lågmäld optimism för programmet för att köpa obligationer med målet att få fart på tillväxten i euroområdet.

Mario Draghi: inflationen bör vara tillbaka 2016

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