Europe’s inflation likely hasn’t peaked, ECB’s Lagarde says

BRUSSELS (AP) — The head of the European Central Bank says she doesn’t believe inflation has peaked after reaching the highest levels on record. She also says the bank isn’t through raising interest rates to combat those price spikes. ECB President Christine Lagarde told European lawmakers Monday that there’s too much uncertainty to know whether inflation would come down soon in the 19 countries that use the euro currency. Annual price increases in the region hit a record in October at 10.6%. Lagarde said ECB policymakers expect to raise rates further. The ECB has joined the U.S. Federal Reserve and other central banks around the world in rapidly raising rates to combat inflation.