FRANKFURT—Euro zone inflation will be higher in the coming years than earlier predicted and will come in just below the European Central Bank’s 2 percent target in 2022, a survey by the ECB showed on Friday. Consumer price growth is now seen averaging 2.3 percent this year and 1.9 percent the next, the Survey of Professional Forecasters, a key input in ECB deliberations, showed. This compared to 1.9 percent and 1.5 percent respectively in the last edition of the SPF three months ago. “Respondents attributed the upward revisions mainly to higher energy prices and the impact of supply chain tensions,” the ECB said. “Although both these factors were also cited in the previous round, the recent developments were seen to have been more intense and were expected to be more persistent than previously anticipated.” Already close to twice the ECB’s target, inflation is set to accelerate further and possibly hit …
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