ecb speech, 2006-08-03
Risks to the outlook for price developments have augmented and include further increases in oil prices, a stronger pass-through of past oil price rises into consumer prices than currently anticipated, additional increases in administered prices and indirect taxes, and - more fundamentally - stronger than expected wage and price developments owing to second-round effects of past oil price increases at a time of gradually improving labour markets.
Sentiment: neutral
Topic: mp_inflation