Energy price signals
I can attests that thankfully there's been some milder weather in Europe, and gas prices have been in freefall, following their alarming spike after the Ukraine invasion.
Households and businesses have also cut back on energy consumption, and it's being reflected in dramatic declines in gas and electricity prices across Europe.
Anecdotally some businesses are not heating premises, and others have opted to close until spring.
The good news is that this is quite quickly being reflected in falling inflation figures, in Germany and elsewhere in the EU.
There's plenty of optimism around to suggest that the war on inflation may be deemed won over the coming months...
