ECB notes first success in fight against inflation

Returning inflation in the eurozone to the target level of 2% by 2025 remains the main priority of the European Central Bank (ECB), head of the Bank of France, François Villeroy de Galhau, said in an interview with BFM radio station, Report informs.

“We have already achieved the first success in the fight against inflation, but we must persevere. We need to bring inflation back to the target level of 2% by 2025, and we will do it,” said Villeroy, who is also a member of the Governing Council of the ECB.

According to Eurostat, the euro area’s annual inflation rate remained unchanged at 5.3% in August, the same as in July, despite lower energy prices and a slight slowdown in food prices.