European Central Bank (ECB) Chief Economist Philip Lane remarked on Monday that this year will see core and food inflation coming to their highest level, before starting to subside.
Speaking at the Forum NewEconomy in Berlin, Lane stressed that the energy prices are coming down "very quickly," and predicted strong disinflation later this year, although "not quite yet."
Regarding wages, Lane underscored the importance of a transition phase that will last several years, welcoming good recovery of worker immigration to the European Union which contributed to unemployment remaining "flat."
