Economic news
ABB expects inflation to decline as commodity prices ease
2022.07.21 11:29
FILE PHOTO: The logo of Swiss power technology and automation group ABB is seen at the Swiss Economic Forum (SEF) conference in Interlaken, Switzerland May 24, 2019. REUTERS/Arnd Wiegmann
ZURICH (Reuters) – ABB expects lower inflation in future as commodity prices decline and higher interest rates take an effect, CEO Bjorn Rosengren said on Thursday.
“We see commodity prices going down, that would be some kind of relief,” Rosengren told reporters after ABB reported its second quarter earnings.
“Interest rates are being lifted, which certainly will have some effect on demand in the future,” he said. “Hopefully, we should see some kind of slowdown in inflation going forward.”
