Philip Lane told Le Temps that a second wave of oil and gas prices leaves inflation higher for longer, with a turn back toward the target from the middle of 2027. Bloomberg's headline states the same expectation: a new energy shock means longer inflation. The European Central Bank (ECB) chief economist said pass-through into services prices has not appeared since February. He added that a more persistent shock this autumn would be felt by the European economy.
Philip Lane told Le Temps that a second wave of oil and gas prices leaves inflation higher for longer, with a turn back toward the target from the middle of 2027. Bloomberg reports the same judgment in its headline: a new energy shock means longer inflation. The European Central Bank's chief economist is describing a path, not a new interest-rate decision.[1], [2]
Lane said pass-through into services prices has not appeared since February, the ECB interview records. That gap matters because a goods shock that never reaches services is a different inflation problem from one that does. He was speaking as chief economist, in an interview with Le Temps, not at a policy meeting.[1]
Lane added that a more persistent shock this autumn would be felt by the European economy. Bloomberg's headline stops at the longer inflation. The autumn warning, and the mid-2027 turn, are in the ECB's own interview.[1], [2]
