Schnabel warns next disinflation phase will be harder

Base effects, core inflation and supply-side risks threaten the outlook, she says

Isabel Schnabel
Isabel Schnabel

Although inflation has come down drastically over the last year in the eurozone, bringing it back to the European Central Bank 2% target will be harder, said board member Isabel Schnabel.

Headline inflation in the eurozone peaked in October 2022, when it increased year on year by 10.6%. In stark contrast, it stood at 2.9% last month. However, reaching the policy goal is expected to take way longer, Schnabel stressed in a speech on November 2.

For instance, ECB staff projections expect headline

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