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MNI BRIEF: HICP Inflation Unlikely To Have Peaked - Lagarde

(MNI) LONDON
(MNI) London

ECB President said October peak for headline inflation rates was unlikely.

True

Euro area inflation is unlikely to have peaked, ECB president Christine Lagarde said on Monday, with high wholesale energy prices not yet fully costed into in retail energy costs.

"I would like to see inflation having peaked in October, but I'm afraid I would not go as far as that," Lagarde told the European Parliament's Committee on Economic and Monetary Affairs, adding that she would be "surprised" if it had. Headline inflation touched a euro-era record high 10.6% y/y last month, with core inflation at 5.0%.

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Euro area inflation is unlikely to have peaked, ECB president Christine Lagarde said on Monday, with high wholesale energy prices not yet fully costed into in retail energy costs.

"I would like to see inflation having peaked in October, but I'm afraid I would not go as far as that," Lagarde told the European Parliament's Committee on Economic and Monetary Affairs, adding that she would be "surprised" if it had. Headline inflation touched a euro-era record high 10.6% y/y last month, with core inflation at 5.0%.

Keep reading...Show less