ECB Governing Council Member Warns of Wage Impact From Middle East-Driven Oil Price Surge on June 22

According to ECB Governing Council member Eskriba on June 22, the central bank must monitor potential wage impacts from rising energy costs driven by Middle East conflicts. He noted that energy cost increases are already transmitting to prices, citing higher transportation service costs observed at the latest monetary policy meeting. "We must be vigilant about potential second-order wage effects, depending on inflation persistence," he said.
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