ECB's de Guindos: Inflation could peak around November

Remarks by ECB vice president, Luis de Guindos

• Inflation could peak at around 3.4% to 3.5%
• Have not seen indication that wages are on the rise
• Need to be vigilant to upside surprise on inflation

The part on wages is just a roundabout way of saying that the surge in inflation is still largely due to more transient factors, which reaffirms the ECB's 'transitory' stance.