Inflation in the euro area is unlikely to surge to levels seen in the U.S., European Central Bank President Christine Lagarde said on Friday.
Speaking via videoconference at the WEF's Davos Agenda event on Friday, Lagarde defended the ECB's policy, arguing that Europe did not share the United States'"state of excessive demand."
"When I look at the labor market we are not experiencing anything like The Great Resignation, and our employment participation numbers are getting very close to the pre-pandemic level," she added. Millions of Americans quit their jobs in recent months in pursuit of higher wages and better working conditions. The movement hasCore inflation — a measure that removes components that are vulnerable to volatility from the inflation figure — in the U.S. is at 5.5%, Largarde added, compared to 2.6% in the euro area.
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