ECB’s Lane Sees Inflation Peaking by Mid-Year
(Bloomberg) -- Euro-area inflation may peak by the middle of this year once the energy-price shock eases, according to European Central Bank Executive Board member Philip Lane.
Price pressures at the moment are driven by steep surges in energy and gas, the ECB's chief economist told Greece's Antenna TV in an interview published Tuesday.
“Most likely, with the nature of the energy shock, prices will either level off at these high prices or will start to decline,” Lane said. “But the momentum of inflation will slow down, so we do think that in the second half to the year, as you say, the inflation rate will come down. And we do think it will be a lot lower next year and the year after.”
Inflation in the 19-nation region climbed to 7.5% in March, the highest on record. That's bolstered calls from some policy makers including Slovenia's Bostjan Vasle to raise interest rates this year.
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