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ECB expects core inflation to fade as energy prices level off: Lane -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Philip Lane, Chief Economist at the European Central Bank, speaks in New York during a Reuters Newsmaker Event on September 27, 2019. REUTERS/Gary He

FRANKFURT (Reuters), – A large part of the underlying inflation in the Euro zone was caused by high fuel prices. As such, it will probably fade over time. Philip Lane, European Central Bank Chief Economist said this Thursday.

Lane suggested that goods inflation may be up to one percent because of factors Lane believes are temporary. Lane stated that although core inflation currently exceeds 2%, there are good reasons to believe it will recede due to those high-level effects.

He said that the 80 basis points or core inflation at abound was due to the energy price shock.

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