Reuters reports that ECB vice-president Luis de Guindos said that the recent rise in euro zone inflation has a structural driver in supply disruptions and the European Central Bank has to watch for any sign of second-round effects on wages.

"This inflation increase is not only responding to base effects but is also a component that is going to have a more structural impact," de Guindos said, citing supply bottlenecks, distortions in the markets for goods and services and higher energy costs.