© Reuters. FILE PHOTO: Bank of Greece Governor Yannis Stournaras attends the bank’s annual meeting of shareholders in Athens, Greece, on April 1, 2019. REUTERS/Costas Baltas
Aalbach, Austria ( (Reuters) – Euro zone inflation is likely to peak this year before falling in 2023 before moving towards the ECB’s 2 percent target, Greek Central Bank Governor Yannis Stournaras said on Wednesday. Prices could erode consumption and could push the euro zone into recession.
“In my view, we will see a peak in inflation and a steady deceleration this year. After that, inflation will gradually decline in 2023 and converge towards the target in 2024,” Stunaras said at a conference.