The energy shock may intensify — the European Central Bank does not rule out a rise in gas prices
Kyiv • UNN
ECB President Christine Lagarde expects gas prices to potentially rise due to supply disruptions and a cold winter. Extreme weather could make food more expensive.
European Central Bank President Christine Lagarde warned that the energy shock could intensify, and its impact on other prices and wage levels could prove more significant than currently expected, UNN reports, citing Reuters.
"In particular, gas prices may rise in the event of further supply disruptions or an unusually cold winter against the backdrop of low storage levels," Lagarde noted.
The ECB chief also addressed the impact of weather conditions and other natural factors.
"Extreme weather events—likely intensified by the strengthening El Niño phenomenon and the broader climate and environmental crisis—could lead to food prices rising at a faster pace than forecast," she said.