Surprisingly, there was little discussion of inflation at the recent LogiMAT event in Stuttgart - even though the issue is top of mind among European economists and governments.
Soon after the show's end, Eurostat noted that consumer prices in the 20 countries using the euro currency jumped 7% in April from a year earlier, but excluding food, core inflation came in at 5.6%.
Perhaps the reason inflation was not on the agenda in Stuttgart was because manufacturers have navigated the economic uncertainty so well - keeping a close eye on costs and hiking prices amid strong demand. Certainly, their actions are contributing to an inflationary environment, but rising equipment prices have almost slipped under the radar while everyone was focused on soaring energy prices, rising labour costs and hikes in real estate values and rentals.
So, we will be keeping an eye on the next rate move by the European Central Bank and the response of the markets.