Inflation is not fading on a single global tide; an energy shock has pushed prices back up unevenly, and the most exposed households feel it worst.

ECB's Olli Rehn warns the Middle East energy shock is creating stagflation in the euro area, with growth at 0.8% and inflation at 3%. Here's what it means

Inflation is not fading on a single global tide; an energy shock has pushed prices back up unevenly, and the most exposed households feel it worst.