Summary

• It's not an extreme increase, yet.
• Still, April producer prices suggest that inflationary pressures are already broadening, from higher energy prices to metals and fertilisers.
• As the ECB had underestimated the adverse effects of the sovereign debt crisis, the 2011 rate hikes were reversed quickly.

By Carsten Brzeski

When economists start writing about producer prices early in the morning, you know what time it is: it’s inflation anxiety time. Producer prices usually live a quiet, Cinderella existence – only stepping into the spotlight when everyone is

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