Key facts
- ECB Governing Council member Jose Luis Escrivá stated that the ECB must monitor the effects of rising oil and commodity prices on wages.
- This highlights a potential concern for the European Central Bank regarding inflationary pressures.
- Escrivá noted a pass-through to prices where energy is a key input, such as transport-related services.
European Central Bank Governing Council member Jose Luis Escrivá stated that the ECB must monitor the effects of rising oil and commodity prices on wages. This highlights a potential concern for the European Central Bank regarding inflationary pressures. Escrivá noted that a relevant observation at the ECB’s latest monetary policy meeting was a pass-through to prices where energy is a key input, such as transport-related services.