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MNI BRIEF: ECB Sees M/T Inflation 'Increasing Likely' At 2%

(MNI) London

Inflation could be considerably higher than currently seen in coming months, European Central Bank President Christine Lagarde said Thursday, as the bank's staff CPI projections were revised sharply higher.

The ECB said inflation will likely average 5.1% over 2022, 2.1% in 2023 and 1.9% in 2024, just about at the medium-term price target. Lagarde added the Governing Council now sees inflation 'increasingly likely' to stabilise at 2%.

The central bank staff also revised their growth outlook given the ongoing war in Ukraine, with GDP growth in 3.7% in 2022, 2.8% in 2023 and 1.6% in 2024.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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