RT @ecb: Inflation excluding energy and food rose to 4.8% last month. As monetary policy works mainly via the demand channel, we analysed price changes of individual items to find out how supply and demand shocks are contributing to rising prices https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_07~8b71edbfcf.en.html #EconomicBulletin