In the euro area, on average, 12 % of consumer prices change in any given month. Price adjustments often take place in January. The frequency and size of price changes vary greatly from one sector to another, whereas differences between countries are much smaller. The analysis is based on the findings of the European research network PRISMA (Price‑Setting Microdata Analysis Network), which considers detailed price data. The article also examines producer prices and price setting in 2020, the year in which the pandemic started.