ECB Is Monitoring High Food and Services Inflation, Nagel Says

The European Central Bank must continue to monitor after-effects of the post-Covid spike in inflation including higher food prices and sticky services costs, according to Governing Council member Joachim Nagel.

While price gains are hovering around the 2% target and should stay there over the medium term, the aftermath of the crisis is “still noticeable in some case,” the Bundesbank president said Monday in prepared remarks for a discussion in Frankfurt.