Further remarks by Rehn
- Core inflation remains subdued
- No major evidence of second round effects on inflation or wage pressures
- ECB leaning on the side of not overreacting
The headline is a fair point but even core CPI has jumped up to close to 2% in the latest annual reading for September. Sure, some of the factors driving the surge may be perceived to be temporary but again, what exactly is the definition of transitory here?
