▪️ “We are now seeing a second wave of price increases not only for oil but also for gas. We believe this second wave of energy price growth will lead to higher and more persistent inflation,” said Philip Lane, Chief Economist of the European Central Bank.
▪️ The current rise in energy prices will put upward pressure on food prices, electricity, and goods in general.
▪️ Inflation in the eurozone is expected to rise to 4% in the coming months, twice the target. “The shock, which will be stronger and more prolonged this autumn, will hit the economy,” Lane stressed.

“CRYSTAL OF GROWTH” previously reported that, according to Politico, Europe is preparing for an economic shock similar to the 2022 crisis.