Lagarde: Price Rises "More Widespread", "Uncertain How Persistent"

Lagarde continues her opening comments, and saying that inflation is expected to rise further in the near term. She elaborates:

• Energy prices continues to be main reason for the high rate of inflation. Food prices have also increased owing to seasonal factors, higher transport costs and the higher cost of fertilisers. Energy costs have risen further in recent weeks and the war will cause additional pressure.
• Price rises have become more widespread. Most measures of underlying inflation have risen over recent months to levels above 2%. However, it is uncertain how persistent these factors will be.
• Market based indicators suggest that energy prices will stay high for longer than expected but will moderate over the projection horizon.