Year-on-year, consumer prices have increased substantially since the beginning of 2021, from 0.6% in January 2021 to 3.6% in February 2022, a level not seen since 2008. The rise in inflation until summer 2021 was mainly the result of prices being low in 2020 (“base effect”), it then increased with the strong surge in energy prices, despite the “price shield” which held it down significantly...