(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.
| Read more: |
|---|
©2022 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
