ECB needs time to analyze the consequences of ‘very high’ inflation: Lane By Reuters

© . FILE PHOTO: Philip Lane, governor of the Central Bank of Ireland, speaks at a European Financial Forum event in Dublin, Ireland, Feb. 13, 2019. REUTERS/Clodagh Kilcoyne FRANKFURT () – Inflation in the eurozone is “very high” , but the European Central Bank needs time to assess the net impact of higher energy prices on workers’ wage demands and costs for households and businesses, the ECB’s chief economist Philip Lane said Friday. “This is a very high number,” Lane told broadcaster CNBC, referring to Friday’s 7.3% inflation. “It’s important that we take our time, use the upcoming meetings, use the forecasting exercises to put all that together and make a net estimate,” he added.

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