euro area disinflation on track with strong wage growth and low unemployment

Philip Lane, the Chief Economist of the European Central Bank, has stated that there has been significant progress in reducing inflation in the euro area.

Lane expressed confidence among ECB policymakers about the direction of disinflation and predicted that unemployment would remain low. He also mentioned that consumption is expected to increase and investment is recovering.

Lane noted that wage growth in the region is currently strong, indicating a strong economic environment despite ongoing efforts to manage inflation.

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