ECB's Nagel: Inflation Risks Dominate But No Second-Round Effects Yet
Bundesbank President Joachim Nagel stated that while euro zone inflation is high and upward risks persist, expensive energy has not yet fed through to wages and other prices. Inflation in the bloc is currently running at 3.8%, nearly double the ECB's 2% target, and could increase further.
Euro zone inflation remains high and upside risks are still dominant, but elevated energy costs have not yet filtered through to wages or other prices, Bundesbank President Joachim Nagel said Monday. 8%, almost twice the ECB’s 2% target, and could still rise further.