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ECB’s Rehn warns of risk from lengthy inflation surge By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: Olli Rän, Finland’s central banking governor speaks at a Helsinki interview on July 17, 2018 REUTERS/Ints Kalindins/File photo

FRANKFURT (Reuters). The temporary inflation rise in eurozone is only temporary, but householders and companies would expect to see a significant increase in their price expectations if the trend continued for a longer period of time, Olli Renehn, European Central Bank policymaker said Tuesday.

Rehn spoke in support of inflation expectations, saying that “if this high level inflation was to continue for a longer time, it would probably have a greater effect on inflation anticipations.”

Rehn, chief of the Finnish central bank, stated that the three-month forward selling prices for both industrial and retail sectors had started to rise in the face of temporary price pressures.

He said that some of the temporary inflation components are more persistant than previously thought.

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