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High euro zone inflation temporary, ECB’s Lane says

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FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks during a Reuters Newsmaker event in New York

FRANKFURT – Euro zone inflation will ease next year and remains too weak in the medium term, European Central Bank chief economist Philip Lane told a Spanish newspaper, repeating the bank’s long-standing message that high price growth is temporary.

“We believe that next year bottlenecks will ease and energy prices will decline or stabilize,” Lane told El Pais in an interview. “This current period of inflation is very unusual, temporary, and not a sign of a chronic situation.”

(Reporting by Balazs Koranyi; Editing by Kim Coghill)

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