Euro area consumer price growth may stay higher for an extended period because a renewed jump in energy expenses is driving costs up, European Central Bank Chief Economist Philip Lane said in an interview with Le Temps, as reported by Investing.com. Lane outlined a second surge in prices that is hitting both crude oil and natural gas , adding that the central bank anticipates this energy-led wave will generate stronger and longer-lasting inflation before it eases toward the target starting midway through 2027. He cautioned that the present energy price surge is expected to push up costs for food, for power and other forms of energy, and for merchandise broadly, whereas cost pressures in services ought to stay in check.
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