ECB Governing Council member and Central Bank of Ireland Governor Gabriel Makhlouf tells CNBC that inflationary pressures are likely to remain embedded in the economy for the near future. Speaking to Charlotte Reed at the economic forum in Aix-en-Provence, France, Makhlouf said the recent drop in oil prices and the reopening of the Strait of Hormuz will not necessarily translate into immediate inflation relief.
ECB's Makhlouf: Falling oil prices won't simply make inflation disappear
