Isabel Schnabel, member of the executive council of the European Central Bank The ECB reiterated on Thursday that the current rise in inflation can largely be attributed to temporary factors, Reuters reported. “The current peak is largely due to the same factors that drove inflation down before,” the official said.meaning that the longest lasting effects are a consequence of problems in the supply chain.
In turn, Schanbel clarified that the reopening of the economy has driven inflation in services. In his view, it is premature to assume that prices will drop completely next year. “Current inflation is driven by factors related to the pandemic which can be expected to be phased out in the next year, “he said. He cautioned that overreacting to these factors could be detrimental.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
