The Banco Central Europeo has taken steps to address rising prices by increasing interest rates for the first time in three years. This move is intended to contain the growing cost of living. The bank has also revised its inflation estimates, now predicting a rate of 3% by the end of the year.

In a more severe scenario, this figure could reach as high as 4%. Further details on the Banco Central Europeo's actions and predictions are available from El Mundo, including information on the potential impact of global events on the economy.