European Central Bank President Christine Lagarde said underlying inflation in the euro zone is still strong and wage growth is “historically high.” Speaking at the International Monetary Fund’s annual meetings in the Moroccan city of Marrakech, she largely repeated last month’s assessment of the economy while stressing that progress is still needed in taming consumer prices. “Core inflation remains at elevated levels, reflecting the fact that the fading impact of the past surge in input costs is being counterbalanced by rising labor costs,” Lagarde said. “Indeed, employees demanding compensation for the loss in ... (full story)