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ECB closely monitoring inflation expectations, Lagarde says

Measures of underlying inflation in the euro zone have risen above the European Central Bank’s 2% target and the ECB is closely monitoring inflation expectations, its president Christine Lagarde said on Thursday. She said upside risks to the inflation outlook had intensified, especially in the near term. Headline euro zone inflation hit a record high 7.5% last month, nearly four times the ECB’s target, and price growth could accelerate for several months before peaking around mid-year as the war in Ukraine pushes up energy and some food prices.

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