5/20, 12:07 PM (Source: TeleTrader)
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ECB's Lane: There is lot to do to raise inflation

There is a lot of work to be done in order to successfully raise the inflation rate in line with the European Central Bank's (ECB) goals, ECB Chief Economist Philip Lane (pictured) asserted on Thursday.

Speaking at an event organized by the Institute of International and European Affairs (IIEA), Lane stated that the price hike observed now cannot be attributed to "real inflation," adding that "a lot of it" marks "an unwinding of downward shocks" from the year before.

"That is not inflation," Lane noted, adding that the spikes in prices are "mostly [attributed to] supply and demand."

Breaking the News / BU