European Central Bank (ECB) President Christine Lagarde said at a press conference on Thursday that inflation is expected to fluctuate around the current levels for the rest of the year, before declining toward the 2% target in the second half of 2025, APA reports citing BBN.
She said that wages are still rising at an elevated pace "making up for the past inflation surge" but that their growth will moderate over the course of 2024.
"Measures of longer-term inflation have remained broadly stable with most standing at around 2%," Lagarde said. However, she said that upside risks remain, including a larger-than-expected increase in wages or profits, heightened geopolitical tensions, and the climate crisis. The risks to economic growth include a weaker world economy or an "escalation in trade tensions between major economies," the war in Ukraine and the Middle East, and unexpectedly strong monetary policy effects.
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