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MNI BRIEF: EZ Seeing “Big Reversion” Of Price Shocks -Centeno

(MNI) LONDON
(MNI) Rome

Portuguese central bank head sees some relief from inflationary pressures, but still sees interest rates elevated for some time.

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The Eurozone is seeing “a big reversion” of the exogenous shocks that triggered the inflationary surge in the region, Bank of Portugal governor Mario Centeno said Thursday, citing the fall in gas prices, consumption and industrial goods.

“TTF gas prices are down 68.5% year on year today and are below the maximum level in both 2018 and 2019,” said Centeno noting that the same thing was happening with consumption and industrial goods with a decrease of 25% year on year.

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The Eurozone is seeing “a big reversion” of the exogenous shocks that triggered the inflationary surge in the region, Bank of Portugal governor Mario Centeno said Thursday, citing the fall in gas prices, consumption and industrial goods.

“TTF gas prices are down 68.5% year on year today and are below the maximum level in both 2018 and 2019,” said Centeno noting that the same thing was happening with consumption and industrial goods with a decrease of 25% year on year.

Keep reading...Show less