Euro Zone Inflation Will Take Longer to Fall Back to 2 Percent, Says ECB

Vice-President of the European Central Bank (ECB) Luis de Guindos gives a statement during the second day of the Informal Meeting of EU Ministers for Economics and Financial Affairs in Berlin, Germany, on Sept. 12, 2020. Odd Andersen/Pool via Reuters

FRANKFURT—Euro zone inflation will take longer to fall back to target than earlier thought but so far there is no evidence that high prices are becoming embedded in wages, ECB Vice President Luis de Guindos said on Wednesday.

High inflation is challenging the ECB, which has little experience dealing with rapid price growth and complicates a crucial policy decision due on Dec. 16.