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9/17, 3:51 PM (Source: TeleTrader)
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ECB's de Guindos: Inflation this year may be higher than expected

European Central Bank's (ECB) Vice President Luis de Guindos (pictured) said in an interview with Het Financieele Dagblad on Friday that this year the inflation may turn out to be even higher than anticipated, should the supply chain issues persist.

"We expect inflation to continue accelerating until November this year and then fall to 1.7% in 2022 and 1.5% the year after. [...] That has consequences not just for the prices of microchips and semiconductors, but also for energy and transport prices, for instance," de Guindos noted.

The ECB official also mentioned that despite increasing prices, the wages haven't risen as much. He expects the wages to catch up in autumn as salary negotiations get under way.

Breaking the News / LH