In the Eurozone, the sharpest decline in GDP since the COVID-19 pandemic has occurred. Wages have stopped rising. However, inflation has increased. The Purchasing Managers' Index (PMI) for input prices in the eurozone's manufacturing sector surged to 80 points in May, the highest level since May 2022. This represents the largest monthly increase in company costs in the past four years. At the same time, the PMI for output prices rose to 62 points, the highest level in the past 3.5 years.