But the ECB worries that the higher headline inflation may become entrenched through "second round" effects as workers demand higher wages and firms become readier to raise prices.

但是欧洲央行担心更高的总体通货膨胀率通过“第二轮量化发行”效应，变得难以平抑，因为工人们要求更高的工资，企业们更容易提高自己的产品、服务价格。

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It is true that the second-round effects may benefit Democrats marginally.

ECONOMIST: Party politics

GDP, and uses input-output accounts to include second-round effects of cost savings ie, that lower costs in one industry will reduce the price of inputs for other industries.

ECONOMIST: A thinkers’ guide | The

The second round of QE had more straightforward effects.

ECONOMIST: Currencies