ECB’s Lane sees signs strong inflation is easing

FRANKFURT, March 6 (Reuters) – Inflation in the euro zone remains high but there are signs it is easing, the European Central Bank’s chief economist Philip Lane said on Monday as he backed more interest-rate hikes.

“The heatmap suggests still strong inflationary pressures, but some signs of easing are emerging,” Lane said.

He saw easing price pressures from raw materials, economic activity and supply bottlenecks, partly offset by food and labour costs.

“The current information on underlying inflation pressures suggests that it will be appropriate to raise rates further beyond our March meeting,” he added.