Euro zone underlying inflation proving sticky -ECB's Schnabel

WASHINGTON, March 29 (Reuters) - Underlying inflation in the euro zone is proving sticky, raising concerns that painfully high price growth could be more persistent, European Central Bank board member Isabel Schnabel told a conference on Wednesday.

Schnabel argued that quick nominal wage growth may be a sign of second round inflation effects while a widening of corporate profit margins is also a major driver of inflation.

"In general, I think the message is that core inflation is proving to be much stickier than headline inflation," Schnabel told a National Association for Business Economics conference. (Reporting by Howard Schneider; writing by Balazs Koranyi; editing by Chris Reese)

Reuters Messaging: balazs.koranyi.thomsonreuters.com@reuters.net))

Reuters

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Euro zone underlying inflation proving sticky -ECB&apos;s Schnabel

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Euro zone underlying inflation proving sticky -ECB's Schnabel