Euro zone: What can we learn from production costs and prices in the recent period?

In the recent period in the euro zone: Unit labour costs have accelerated , which shows that there are still – even weakened - Phillips curve effects (wages reacting to pressure in the labour market); Prices have not accelerated despite the acceleration in unit labour costs; in industry, it shows the intensity of foreign competition and the euro zone’s cost competitiveness problem . Outside industry, it shows that domestic competition for services is strong within the euro zone and in the member countries, even services sheltered from foreign competition.