Inflation to fall this year but be above where ECB want it - Lane
DUBLIN, Jan 7 (Reuters) - Euro zone inflation will come down this year but it is going to be above where the European Central Bank wants it to be in the long term, the bank's chief economist Philip Lane said on Friday.
Euro zone inflation rose unexpectedly to 5% last month, data on Friday showed, marking a fresh high for the 19-country currency bloc and hitting a level more than twice the ECB's 2% target.
"This year inflation is going to be come down, it's going to be above where we want it to be in the long term but this three-period - 2020, 2021, 2022 - is basically part of a pandemic cycle in inflation so in that sense it should not be compared to historical norms," Lane told Irish broadcaster RTE. (Reporting by Padraic Halpin; Editing by Alex Richardson)
