Helen Rey. Bernd Hartung for ECB
INTERVIEW – For the economist, the slowdown in inflation seems to be on the right track in the United States as in the euro zone.
Vice-president of the Center for Economic Policy Research (CEPR), member of the Circle of Economists and professor at the London Business School, Hélène Rey is a specialist in monetary policy.
LE FIGARO. – The consensus of economists estimates that the peak of inflation, in Europe, will be reached in the first half. Do you share this point of view?
Helen Rey. – Inflation in the euro zone has been driven since the end of the health crisis by rising energy prices. A trend then amplified by the outbreak of war in Ukraine and the rise in food prices that followed. However, central banks do not have control over these external components. They examine underlying inflation, ie the diffusion of price increases to a larger basket. For several months, underlying inflation has been rising sharply in the euro zone, which has led the ECB to raise rates. Today, the big question for central banks is…
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