Inflation More Worrying Than Growth on Iran War, ECB’s Nagel Says

Inflation is a bigger concern than economic growth as the European Central Bank assesses the implications of the war in Iran, according to Governing Council member Joachim Nagel.

The extent to which the 21-nation bloc will be hurt by higher energy prices and trade disruption will depend on how long the war continues, the Bundesbank president told Bloomberg Television on Thursday. Drawing conclusions at this point is difficult as the situation remains “very volatile.”