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MNI BRIEF: Eurozone Inflation Close to Highs: Lagarde

(MNI) London

ECB President Christine Lagarde said price increases look close to the top of the hump and will decline in the coming year.

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Inflation will decline over 2022 as it gets over the current 'hump' European Central Bank President Christine Lagarde said Friday. Speaking at an event hosted by Reuters, Lagarde said prices will decline over the coming year, with price increases now likely at or close to their apex.

With many factors set to lessen the upside pressure in 2022, including a likely easing in energy costs, Lagarde said prices will fall towards the ECB's target over the year, although she said the end year level would depend on how soon prices start to ease.