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Economy and Finance

Quarterly Report on the Euro Area (QREA), Vol. 22, No. 2 (2023)


Institutional Paper 254
Publication date
20 July 2023
Directorate-General for Economic and Financial Affairs


This edition analyses the impact of increasing commodity prices, with a particular focus on energy prices, from three different angles. First, it studies inflation divergence in the euro area inflation, driven by the external shocks but also by internal factors.. Second, it discusses the factors driving pass-through of wholesale energy prices to the retail market and how it has diverged across euro area countries. Finally, the issue discusses the impact of the increase in energy costs on firm’s profitability.

Information and identifiers

Institutional Paper 254. July 2023. Brussels. PDF. 54pp. Tab. Graph. Bibliogr. Free.

KC-BC-23-061-EN-N (online)
ISBN 978-92-68-04229-8 (online)
ISSN 2443-8014 (online)
doi:10.2765/496835 (online)

JEL classification : D2, D4, E3, H5, L1, L2, L5, L7, L9


European Economy Institutional Papers are important reports analysing the economic situation and economic developments prepared by the European Commission's Directorate-General for Economic and Financial Affairs, which serve to underpin economic policy-making by the European Commission, the Council of the European Union and the European Parliament. Views expressed in unofficial documents do not necessarily represent the views of the European Commission.

Quarterly Report on the Euro Area (QREA), Vol. 22, No. 2 (2023)


20 JULY 2023
Quarterly Report on the Euro Area (QREA), Vol. 22, No. 2 (2023)
20 JULY 2023
Chapter I. The great dispersion: euro area inflation differentials in the aftermath of the pandemic and the war
20 JULY 2023
Chapter II. Pass-through in EU electricity and gas markets
20 JULY 2023
Chapter III. Corporate vulnerability and the energy crisis
20 JULY 2023
Annex. The euro area chronicle