ECB’s Schnabel flags inflation risk from wages, expectations
9:17 am Thursday, November 10th, 2022
LJUBLJANA (Reuters) – Euro zone wages are rising “significantly” and underlying inflation show strong momentum, two factors that raise the risk that the current high rate of price growth takes hold, ECB board member Isabel Schnabel said on Thursday.
“Strong momentum in underlying inflation points to higher persistence,” Schnabel said in slides accompanying a presentation at the Bank of Slovenia.
“Wage growth has picked up significantly in light of sharply declining real wages.”
(Reporting By Balazs Koranyi; Editing by Francesco Canepa)
