ECB’s Lane: one-off wage increases do not equal sustained inflation
Inflation is forecast to have reached 3.4% year on year in September, well above the ECB’s 2% goal
An increase in wages is not a sufficient sign of a sustained increase in inflation, European Central Bank chief economist Philip Lane said today (October 11).
His words come amid a growing debate on whether central bankers in Europe and the US are underestimating inflation risks. Eurostat, the European Union statistical agency, estimates that eurozone year-on-year inflation, measured by the harmonised index of consumer prices, rose by 3.4% in September. This is considerably higher than the ECB
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