ECB Chief Economist Philip Lane says the renewed energy shock is more persistent and InflationInflation refers to a sustained rise in the general price level that reduces the purchasing power of money. The term belongs in Level 7 because it helps connect macro conditions...Read More may not return toward target until around mid-2027.
ECB Chief Economist Philip Lane said the renewed energy shock is proving more persistent than previously expected, with higher OilOil refers to a globally traded energy commodity whose price is shaped by supply, demand, inventories, geopolitics, and economic activity. The term belongs in Level 7 because it...Read More and gas prices likely to keep inflation elevated before it moves back toward target from around mid-2027. Reuters reported Lane saying food, energy and goods prices would feel the effects of higher energy costs, while services inflation had remained comparatively stable since February. The comments add a senior policy signal to evidence that Europe's latest energy shock is feeding through to consumer prices.
