Euro zone inflation going in right direction, says ECB’s Nagel

FRANKFURT (Reuters) – Inflation in the euro zone, including a core measure that strips out volatile prices, is going in the right direction, European Central Bank policymaker Joachim Nagel said on Friday as he backed the ECB’s latest rate cut.

“We assume that core inflation will improve, especially with the declining wage trend in the euro zone,” he told German radio Deutschlandfunk. “Here, too, things are moving in the right direction.”