FRANKFURT – Germany’s top-selling tabloid Bild scathingly criticized President Christine Lagarde of the European Central Bank (ECB). She was accused of destroying savings and earnings of common people through allowing an inflation rise.

This article may echo a Bild attack against Mario Draghi, Lagarde’s predecessor in 2019. It could signal new hostility on the part the German public towards the ECB. The German public has been skeptical for a decade about the bank’s ultraeasy policies.

Although consumer price growth reached a 13 year high, the bank decided to leave rates policy unchanged two days ago.

Lagarde was called “Madam Inflation” by the newspaper. It accused her of being wealthy and a fashion shopper, while saying that she did not care much about people’s problems. It said that Christine Lagarde was melting pensions and wages, as well as savings.

When asked about the article in Reuters, an ECB spokesperson said that Lagarde, during her Thursday news conference, had admitted inflation was “clearly of concern to citizens” and stated that policymakers went through a lot of soul-searching before tightening their policy.

Bild’s attacks come a week after Jens Weidmann (German central bank chief), a vocal critic of ECB policies, quit his position. He argued that 10 years is sufficient, while warning about inflation risks.

This month’s eurozone inflation was 4.1%, which equals its all-time high. German inflation, however, is higher and will likely reach 5% by the year’s end.

($1 = 0.8650 euros)