EU ministers discuss rising inflation

European Union finance ministers discussed rising consumer prices, its impact on wages and the changes they would like to make to the union's budget rules to support investment and reduce debt, and European Central Bank chief economist Philip Lane said inflation rose to 4.1% in October faster than expected.

"We believe supply bottlenecks will ease next year and energy prices will either fall or stabilize," Lin said. "This current period of inflation is unusual and temporary, not a sign of a chronic situation." "We should return to more moderate inflation figures, but the process will be slower than expected, and it is clear that the risks of the second round of wage formation need to be taken seriously and monitored," Lin stressed.