Headline: ECB's Lane: Disinflation Process Making Strong Progress

In a speech in Cleveland, European Central Bank Executive Board member and Chief Economist Philip Lane provided insights into the current inflation trends in Europe. Lane noted that inflation indicators have decreased from a peak range of 3.4% to 7.5% to now fluctuate between 1.9% and 2.8%. He highlighted that 2024 will be a "transition year," with some "backward" inflation effects still persisting. Nonetheless, Lane stated that the overall disinflation process is progressing well, with inflation expected to return to targeted levels by 2025.