ECB’s Vujcic warns energy shock could keep inflation hot
European Central Bank (ECB) Vice President Boris Vujcic said on Friday that the ECB started a tightening cycle and sees a “risk of higher for longer energy prices." He added that diesel prices will stay high for a long time, feeding into inflation.
ECB Vice President Boris Vujcic warned that an energy shock could maintain inflation at elevated levels. He stated that the ECB has initiated a tightening cycle, expressing concern over "higher for longer" energy prices. Vujcic highlighted that diesel prices are expected to remain high for an extended period, contributing to inflation rates. While crude oil prices may decrease, refined products are not anticipated to follow suit, largely due to the persistently high diesel prices.
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