A central bank's primary objective is to maintain low and stable price inflation. Imagine this bank's economy is hit by a sudden, large increase in the global price of energy, which is a key input for almost all businesses. This event pushes overall price inflation far above the bank's target. Simultaneously, the higher energy costs are causing businesses to cut back on production, leading to slowing economic growth. Explain the fundamental trade-off the central bank faces when deciding on its immediate policy response.