Inflation slowed less than expected in Germany and quickened in Spain, offering European Central Bank officials a partial picture of the region’s price pressures as they judge whether to raise interest rates again.
The numbers published Wednesday point to the possibility of a robust outcome when the euro-zone report is released the following day — data policymakers have highlighted as crucial to their Sept. 14 decision.
Any evidence of stubbornly strong consumer-price growth may yet convince the ECB to raise borrowing costs. Officials are weighing if underlying pressures are too strong to risk a pause, or whether a weakening economy can brake inflation without further tightening. Data on Thursday will help complete the view for policymakers, starting with France. Inflation there is anticipated by economists to have resurged to 5.4%.
They’re also looking at expectations to see if consumers may seek higher wages that entrench inflation. A survey released by the European Commission on Wednesday showed households this month raised their outlook for price increases over the next year.“A large part of inflation comes from high import prices for energy,” Chancellor Olaf Scholz said earlier on Wednesday.
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