Read the following extract and answer questions. “The European Central Bank is expected to set aside recession worries and deliver another jumbo interest rate hike this week to cool inflation, as Russia's war on Ukraine sends energy prices soaring. Inflation in the 19-nation Eurozone climbed to an all-time high of nearly 10 % in September, five times the ECB's target of two percent. The ECB's governing council last month raised its key interest rates by an unprecedented 75 basis points, and many observers expect it to repeat the move at Thursday's meeting.” The view of the inflation process being expressed in the above quote is:

a) The monetarist approach to inflation

b) Cost push inflation

c) Demand push inflation

d) The conflict approach