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Reviews ECB-Chief Volkswirt - Inflation dynamics in the euro area remains behavior

12:55  01 april  2021
12:55  01 april  2021 Source:   de.reuters.com

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Frankfurt (Reuters) - despite the recent increase in living expenses in the euro area, from the point of view of ECB-Chief Volkswirt Philip Lane remains rather dampened price pressure.

FILE PHOTO: European Central Bank (ECB) headquarters building is seen in Frankfurt © Reuters / Ralph Orlowski File Photo: European Central Bank (ECB) Headquarters Building Is Lakes in Frankfurt

A sustainable turnaround in inflation dynamics is currently not detectable, explained Lane on Thursday in a blog entry on the website of the European Zenralbank ( ECB). "The medium-term outlook for inflation remains behavior," wrote the economist. Because demand is still weak, even in the labor market and on the product markets there is a catch-up requirement. The gap towards the inflation target of the central bank of almost two percent will determine the agenda for the ECB Council in the coming years.

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In March, the consumption prices in the currency area increased by 1.3 percent. Especially the energy prices were wider. Still in February, the inflation rate was 0.9 percent. Experts assume that the inflation will continue to grow in the next few months, mainly because of the low comparative basis of the previous year's corona crisis. According to Lane, there are therefore above all over-hedged factors at the factory through which the ECB can "pass".

"The economic situation in the next time will continue to be dominated by high uncertainty in the face of the race between the start of the vaccine campaigns and the spread of the virus," explained the ECB chief economist. The extensions of Lockdown measures would leave traces in the second quarter in economic activity. In the first quarter, the gross domestic product had fallen corrupted.

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