frankfurt-sana
European Central Bank President Christine Lagarde said today that she does not expect inflation to return to normal levels in the near future.
"Core inflation does not include food and fuel prices in the euro area and may remain high for a period of time even if the overall inflation rate declines," Lagarde told Spanish media network Fucento, as the European Central Bank prepares to raise interest rates by 50 basis points.
Lagarde called for taking the necessary steps in terms of monetary policy to confront high inflation and move it towards the target levels of 2 percent.
Inflation in the eurozone recorded record levels, as it began to rise at the end of 2021, reaching a peak last October of 10.6 percent, while in February it reached 8.5 percent.
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