The European Central Bank has identified rising energy prices as creating both upward inflation risk and downward risk to economic growth, as of 30 October 2026.

Recent upward revisions to inflation figures have been primarily attributed to higher energy prices and their secondary indirect effects.

On 29 October 2026, FP Economic Affairs Secretary Haivanjoe Ng Cortiñas stated the government applies inflation indexing unilaterally only for state revenue collection.