ECB chief economist adamant eurozone inflation will fall despite new record high

ECB chief economist Philip Lane has insisted that 'inflation pressures will ease over the course of this year'.
Eurozone inflation will fall this year, despite new figures showing record-high prices across the region, ECB chief economist Philip Lane has said, in an attempt to dispel the notion of rising pressure on the bank to raise interest rates.
Inflation across the eurozone hit a record 5% in December after rising unexpectedly from 4.9% in November, in excess of the 4.8% economists had predicted.