Nagel Says ECB Inflation Not Yet Driving Wages
Bundesbank chief Joachim Nagel noted that euro zone inflation remains high at 3.8% but has not yet triggered second-round wage effects. Upside risks persist amid vulnerable energy and food markets.
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Euro zone inflation is running at 3.8% with dominant upward risks, though expensive energy has yet to trigger wage spirals. That leaves price growth vulnerable without further central bank intervention. Bundesbank President Joachim Nagel delivered the assessment during a Monday speech in Italy, noting that current price pressures remain elevated near double the ECB's 2% target.
