{
  "id": 8941628,
  "title": "Wholesale Gas Prices Are Reaching Consumers Faster, ECB Says",
  "url": "https://urgent.news/2026/09/21/wholesale-gas-prices-are-reaching-consumers-faster-ecb-says",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T14:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Wholesale-Gas-Prices-Are-Reaching-Consumers-Faster-ECB-Says.html"
  },
  "original_language": "en",
  "account": "The European Central Bank (ECB) has revealed that the impact of rising wholesale natural gas prices is likely to influence consumer prices in the Eurozone more swiftly than previously, according to a report on Monday. While pass-through effects can show up in inflation data within one to three months for the majority of Eurozone countries, the pressure on electricity prices has been relatively subdued so far in 2026 compared to 2022, largely due to a greater reliance on electricity generated from renewable sources, according to the ECB's economists.\n\nThe escalation in natural gas prices has been significant, doubling since the onset of the conflict in the Middle East, whereas oil prices have risen more modestly by around 40%. This surge in energy prices has reignited inflation concerns in Europe, primarily driven by the sudden surge in wholesale gas prices. The Iran war and heightened competition for spot LNG supply from Asia coincide with Europe's attempts to replenish natural gas inventories for the winter, which began in the spring and summer.\n\nIn response to inflation exceeding the ECB's long-term target of 2%, the ECB raised the key interest rate for the euro area by 0.25 percentage points in September, following a rate increase in June for the first time since 2023. The ECB remains cautious about the future, highlighting that the outlook remains highly uncertain, with risks to both inflation and economic growth.\n\nA survey conducted by the ECB's economists indicates that wholesale gas price changes are projected to be transmitted to consumer gas inflation within 1-3 months in more than half of the Eurozone, within 4-6 months in approximately one-tenth of the euro area, and within 7-12 months in around one-third of the Eurozone, all of which are longer than the timeframe observed in 2022. A notable decrease has also been seen in the proportion of countries indicating a slow pass-through to consumer gas prices within 13-24 months, dropping from around 40% to 5% since 2022.",
  "summary": "The surge in wholesale natural gas prices is set to pass through the retail and electricity inflation in the Eurozone faster than in the past, the European Central Bank (ECB) said in its Economic Bulletin on Monday. While the pass-through is faster and can manifest in the inflation numbers within one to three months for most Eurozone members, the pressure on electricity prices has been lower so…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}