European Central Bank President Jean-Claude Trichet warned Wednesday that euro nations are already seeing the first signs of an inflation price spiral, calling on governments to take care not to grant wage hikes that could fuel further price rises.
The ECB's governing council "is strongly concerned that price and wage-setting behavior could add to inflationary pressures," Trichet told the European Parliament. "First signs are already emerging in some regions of the euro area."
He said current inflation levels were "worrying" and warned they were set to stay high before cooling gradually next year.
He said indexation …
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