9/21, 9:35 AM (Source: TeleTrader)
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ECB's de Guindos: Inflation to peak at 3.5%

European Central Bank's (ECB) Vice President Luis de Guindos (pictured) stated on Tuesday that inflationary levels in the Eurozone could peak at around 3.4% to 3.5%. De Guindos said that such spikes could happen sometime in November.

However, he noted that the majority of the rise in inflation is only temporary, saying that there is no indication that wages are on the rise as evidence of transitory inflation. Lastly, De Guindos also stated that he expects there to be strong economic growth in the third quarter of the year.

Breaking the News / OL