ECB's Lane Says Energy Shock to Keep Inflation Above Target Until Mid-2027

European Central Bank Chief Economist Philip Lane said a renewed energy shock will keep inflation higher and more persistent than previously expected, with consumer prices returning to target only from mid-2027. He cited elevated geopolitical risks and rising oil and gas prices. "So far, from February until now, we haven't" seen spillover into other prices, Lane told Swiss newspaper Le Temps in an interview published Sept. 22, 2026, calling that "the good news." He warned the second wave of energy price increases will likely push up food, electricity and goods prices broadly, while pressure on services should remain relatively contained. The comments signal the ECB expects a slower path back to its 2% target.