Volker Wieland warns of continued high inflation rates (Tagesthemen, Bild am Sonntag)

Prof. Volker Wieland has warned of higher inflation rates in the coming years as well. The European Central Bank (ECB) expects inflation in the euro area to be below the 2 percent mark again next year, he said in an interview on ARD's Tagesthemen. "There is a risk that inflation will not fall as much as expected." The ECB might then be too late in adjusting its monetary policy. Speaking to Bild am Sonntag, he expressed concern about material shortages and supply difficulties in parts of the economy while demand for certain goods remains high. In this situation, he sees the ball in the court of the European Central Bank (ECB).

"The strong inflation trend is increasing the pressure on central banks to raise interest rates more quickly. This debate is already heated in the U.S., but the ECB will also have to deal with it. It would be dangerous if the central bank waits too long to take this step."

Earlier, the Federal Statistical Office announced that goods and services in Germany increased in price by 3.8 percent year-on-year in July.

ARD-Tagesthemen, 30.07.2021: Interview with Helge Fuhst (starting minute 10:00). Watch the video

Bild am Sonntag, 01.08.2021: "Die Preise steigen, die Zinsen leider nicht"

Bild am Sonntag/Bild.de, 5.08.2021: "Die Inflation wird uns Jahre verfolgen - Top-Ökonom Volker Wieland drängt EZB zur Zinsanhebung"