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The ECB Podcast

The ECB Podcast

By: European Central Bank
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 The European Central Bank Podcast – bringing you insights into the world of economics and central banking. Our hosts Paul Gordon and Stefania Secola talk to experts about the topics and trends that matter to the eurozone economy today. The views expressed are those of the speakers and not necessarily those of the European Central Bank.All rights reserved Politics & Government
Episodes
  • Spilling the beans on food inflation: what’s driving price changes?

    Spilling the beans on food inflation: what’s driving price changes?
    Jan 28 2026
    How much do you spend on food every month? Food is one expense we simply can’t go without – we all need to eat, after all! But you may have noticed that your morning eggs, lunchtime sandwich, or favourite late-night snack is costing more than it used to. How have food prices changed over the past year? What’s driving the price increases? And what’s in store for our grocery bills in 2026? Our host Stefania Secola speaks to economists Elisabeth Wieland and Zivile Zekaite to answer these questions. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Recorded on 20 January 2026 and published on 26 January 2026. In this episode: 02:23 Is food really getting more expensive? How do we track changes in food prices? How did food inflation develop in 2025? And what role does media coverage play? 05:39 Which foods are especially affected? Some prices are up, others are down. Why have items like coffee, cocoa and meat been hit the hardest? 08:26 Have some products also become cheaper? While meat and sweet treats have become more expensive, items like vegetables and butter have become cheaper. The overall food basket tells an interesting story and is influenced by its different components. 09:13 What’s driving price increases for certain products? Raw material costs, climate change, and supply and demand factors all affect food prices. Rising wages and energy costs also play a role. 12:35 Why do food prices matter so much? Food is a big part of our budget and cannot be replaced by other items. Also, since we go to the supermarket often, food prices play a big role in shaping our inflation expectations. 19:10 What can we do about rising food prices? Temporary vs structural changes – how do they differ? And what’s the ECB’s role when it comes to inflation and food prices? 20:52 What’s in store for our grocery bills in 2026? Good news: food inflation is set to ease in the coming year. So, what does this mean for your wallet? 22:06 Our guests’ hot tips Elisabeth and Zivile share their hot tips. Further reading: Inside the food basket: what is behind recent food inflation? (Economic Bulletin Issue 8, 2025) https://www.ecb.europa.eu/press/economic-bulletin/focus/2026/html/ecb.ebbox202508_07~8e10bb606b.en.html Consumer Expectations Survey https://www.ecb.europa.eu/stats/ecb_surveys/consumer_exp_survey/html/index.en.html Elisabeth’s hot tip: use food price comparison websites and apps for tracking prices Zivile’s hot tip: look at the price per kilogram to find the best-value food ECB Instagram https://www.instagram.com/europeancentralbank/
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    24 mins
  • Love at second sight? Hopes and fears when joining the euro area

    Love at second sight? Hopes and fears when joining the euro area
    Dec 22 2025
    The euro family is growing. Bulgaria is gearing up to adopt the euro. But what hopes and fears come with the transition? And were there similar feelings in other countries? To explore these questions, our podcast team spoke with content creators Mihaela, Elena and Stefan (also known as Chefo) to hear their perspectives on the transition. Meanwhile, in the podcast studio, our host Stefania Secola explored the topic with ECB researcher Ferdinand Dreher, who shed light on why public sentiment towards the euro tends to improve once people start using it in their everyday lives. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Recorded on 11 and 16 December. Published on 22 December 2025. In this episode: 00:53 Looking back at Germany’s adoption of the euro Ferdinand shares his personal memories of Germany’s transition to the euro. 04:46 What are the biggest concerns around Bulgaria’s euro adoption? Concerns arise with every major change. We asked three Bulgarian content creators – Mihaela, Elena and Stefan (also known as Chefo) – about their biggest concerns regarding euro adoption. 08:00 What does the research show? What do surveys reveal about people’s concerns? What are the biggest concerns, and what are the initial inconveniences of the transition? 13:07 What are the biggest hopes around Bulgaria’s euro adoption? Alongside fears, there are also hopes. Mihaela, Elena and Stefan share their perspectives on the positive aspects of euro adoption. 15:55 How do people’s feelings evolve after adoption? Surveys show a significant shift in sentiment from the last survey before adoption to the first survey after adoption. What drives this change? Does clear communication play a key role? 20:13 What about Eurosceptics? Does Euroscepticism persist after adoption? 21:30 What about concerns around national identity? Do people feel that their national identity is under threat? Euro coins have a European side and a national side – does this help? Can European and national identities coexist? 23:53 Concerns are normal, but benefits will come What is the message for countries who may adopt the euro in the future? 25:26 Our guest’s hot tip Ferdinand shares his hot tip with listeners. Blog post by Ferdinand Dreher and Nils Hernborg “Love at second sight: support for the euro before and after adoption” https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20251104~cf577c8f68.en.html Design of the euro coins – Bulgaria https://www.ecb.europa.eu/euro/coins/html/bg.en.html Bulgaria on the doorstep of the euro area https://www.ecb.europa.eu/euro/changeover/bulgaria/html/index.en.html ECB Instagram https://www.instagram.com/europeancentralbank/
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    29 mins
  • President Lagarde presents the latest monetary policy decisions – 18 December 2025

    President Lagarde presents the latest monetary policy decisions – 18 December 2025
    Dec 18 2025
    Today our Governing Council decided on monetary policy. Listen to President Christine Lagarde present today’s decisions. The statement also covers: • how the economy is performing • how we expect prices to develop • the risks to the economic outlook • the dynamics behind financial and monetary conditions Published and recorded during our press conference on 18 December 2025. Our monetary policy statement at a glance, 18 December 2025 https://www.ecb.europa.eu/press/press_conference/visual-mps/2025/html/mopo_statement_explained_december.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 18 December 2025 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is251218~3a10402adb.en.html Monetary policy decisions, 18 December 2025 https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp251218~58b0e415a6.en.html Combined monetary policy decisions and statement, 18 December 2025 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds251218~f264376788.en.pdf Macroeconomic projections, 18 December 2025 https://www.ecb.europa.eu/press/projections/html/index.en.html European Central Bank https://www.ecb.europa.eu/home/html/index.en.html
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    15 mins
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