ECB’s de Guindos Says Latest Inflation Readings Are ‘Positive News’

31 May 2023

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos said on Wednesday that the latest data showed that inflation was moving in the right direction.

In a briefing with journalists, he said that inflation data from Spain, France and some German states released on Tuesday and on Wednesday morning were ‘positive news’ and showed ‘we are in a correct trajectory.’

It was too early, however, to declare an end to the fight against high inflation, he said: ‘I do not say that the victory is there, so far.’

‘I think that now, [in] headline inflation, we are going to see volatility’, he predicted. This was due to ‘base effects and the way that the governments phase in and out the different support measures that were introduced at the beginning of the energy crisis’, he said.

‘The data that we have received yesterday, and today, I think, that is positive, there is a decline in headline inflation, also a decline in core inflation, clearly. The news that we are receiving now are positive news, and go in the direction of an important decline in headline inflation.’