European Central Bank Governing Council member Joachim Nagel saidjumbacasinonodepositbonusFactors such as geopolitics and decarbonization may push consumer price increases high in coming years.
"A range of potential factors could lead to higher inflationary pressures in the future," the Bundesbank governor told a meeting on Tuesday, adding that demographic trends could lead to "persistently higher wage growth."
Although Nagel mentioned that more research is needed, he does not expect inflation to return to its depressed state before the epidemic.