The ECB should rethink its decision to implement further interest rate hikes in the coming months .
A leading economist says inflation is falling as is the price of fuel which is having a positive impact on the rate of inflation.
Economist Austin Hughes says all the indicators are pointing in the right direction as inflation begins to fall back:
"I don't think they need to raise interest rates again. We're seeing already a significant drop in global energy prices, and global food prices have started to soften. That hasn't translated into retail prices yet, but I think we are already in a period of disinflation, so I don't think further interest rate increases are needed".
