Rapid wage growth keeps core eurozone inflation high, says Lagarde

Euro-zone inflation will continue to fall, but underlying price pressures, driven by rapid nominal wage growth, will remain elevated for some time and ease only slowly, European Central Bank President Christine Lagarde said on Friday .

“Historically high wage growth, related to tight labor markets and offsetting high inflation, will support core inflation over the projection horizon as it gradually returns to rates around our target,” Lagarde said in a statement at the spring of the International Monetary Fund.

Source: Terra

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