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ECB’s de Guindos sees structural driver in inflation rise By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – Vice President of the European Central Bank (ECB), Luis de Guindos, attends a meeting of European Union Finance Ministers in Brussels on January 21st 2020. REUTERS/Johanna Geron//File Photo

FRANKFURT, (Reuters) – The rise in inflation in the euro area has been a major driver of supply disruptions. Therefore, Luis de Guindos, vice president at the European Central Bank said Monday that wages should be closely monitored for signs of second-round effects.

According to de Guindos at a Spanish conference, “This inflation rise is not just responding to base effects, but it is also going to have more structural consequences.” He cited supply bottlenecks and market distortions as well as higher energy prices.

“This has an impact beyond the one we expected a few months back.”

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