Economics
ECB Chief Economist Says Euro Zone Doesn’t Face ‘Chronic’ Inflation of 1970s
- Current period of consumer-price increases is ‘very unusual’
- Lagarde has pushed back against rate-hike bets for next year
Pedestrians pass a food store on Sonnenallee in Berlin.
Photographer: Jacobia Dahm/BloombergThis article is for subscribers only.
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European Central Bank Chief Economist Philip Lane said the euro region’s bout of “unexpectedly high” consumer-price increases doesn’t herald the sort of problem that global economies faced in the 1970s.