ECB: We expect inflation rate at 2% during 2025‎

François Villeroy de Gallo, a member of the European Central Bank’s Governing Council, said that the recent increase in oil prices will not hamper the efforts taken by the bank to combat inflation.

He indicated, according to Bloomberg, that their expectations are for the inflation rate to reach about 2% in 2025.”

De Gallo added in a statement, “We are very attentive, but we do not doubt that the underlying inflation rate is temporarily slowing.”

The bank’s latest inflation forecast, which expects consumer price growth to slow to that level, is based on an estimate that the price of oil, which stands at $82.7 a barrel this year, will fall to $77.9 in 2025.