ECB’s Nagel Expects Core Inflation to Slow Before Summer Break

Underlying inflation that strips out volatile items like food and energy will likely slow this summer, according to European Central Bank Governing Council member Joachim Nagel.

“Core inflation sadly has accelerated in recent months,” Nagel told the Pioneer Briefing podcast in an episode aired Monday. “But I’m also counting on a retreat before the summer break,” he said. “Still, inflation is too high and we have to do more on interest rates.”