Economy

Euro zone underlying inflation finally easing: ECB’s de Guindos

cde.news desk 7 July 2023, 17:00 · 1 min read

epa09977163 A customer shops for chicken meat at Sainsbury's supermarket in London, Britain, 26 May 2022. Britains Chancellor of the Exchequer Sunak set out plans to combat rising energy and cost of living prices, the support package includes a plan that every household in Britain to get energy bill discount of 400 British pound sterling and introduction of windfall tax on oil and gas firms. EPA-EFE/TOLGA AKMEN

Underlying price pressures in the euro zone, a key focus for European Central Bank policymakers, are finally easing and past rate hikes have started to work their way through the economy, ECB Vice President Luis de Guindos said on Friday.

“While underlying price pressures remain strong, most indicators have started to show some signs of softening,” de Guindos said in London. “While still wide by historical standards, the range of measures of underlying inflation recently began to narrow.”

De Guindos added the ECB’s “job (in fighting inflation) is not yet done” and the central bank would monitor the prices of services inflation and labour costs in particular.

via Reuters

Filed under Comuniq.EU Economy

Topics Economy Inflation

Euro zone underlying inflation finally easing: ECB’s de Guindos

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