Soaring oil and gas prices will keep most other prices elevated for longer, with eurozone inflation only likely to approach the target rate of 2% towards the middle of next year, the chief economist of the European Central Bank has said. “As ‌a result, we believe this second wave of energy price increases should lead to higher and more persistent inflation, before it recedes towards our target starting in mid-2027,” Philip Lane told a Swiss daily, as quoted by Reuters. Lane added that so far, there has not been a “spill”…

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