European Central Bank (ECB) President Christine Lagarde stressed on Monday the numbers concerning inflation are influenced mainly by the factors that are "largely temporary" and that the institution takes "numbers and projections as they come."
Lagarde asserted inflation is expected to remain above its target for the rest of 2021 but noted the expectations on the matter are leaning towards "where we want them to be." She noted inflation is just "moderately above target" at this "transitory period" and underlined the bank is "not deliberately aiming at this excessive inflation."
Speaking about the possible growth of prices of commodities, which could emerge as a result of the discrepancy between supply chains and demand, Lagarde stressed the ECB will take necessary measures to alleviate "[COVID-19] pandemic-caused price pressure" and maintain "favorable financial conditions for all economic players."
