MNI BRIEF: ECB Outlook Already Assumes Higher Gas -Cippolone

The recent surge in natural gas prices should have relatively little impact on European Central Bank inflation projections, with the December outlook already assuming prices on average 25% higher in 2025 than over the previous 12 months, Executive Board member  Piero Cipollone said in an interview with Corriere della Sera. 

"Futures prices currently appear to indicate slightly higher prices over the coming months," Cippolone said, but noted that "a gradual decrease is projected in subsequent years."

Whether or not the higher gas prices would impact the ECB's inflation outlook would be addressed in the March projections, he added.  (see MNI INTERVIEW: ECB To Drop "Meeting-By-Meeting" - Papadia )