The European Central Bank has "largely" completed its fight against high inflation in the euro zone even if prices in the services sector are still growing too fast, ECB chief economist Philip Lane said on Tuesday.

"While headline inflation is currently around the target, services inflation still has some distance to travel to make sure that inflation stabilises at the target on a sustainable basis," Lane told an event in London.

"Still, there has been sufficient progress in returning inflation to target to consider that this monetary policy challenge is largely completed."

(Reporting By David Milliken; Writing by Francesco Canepa in Frankfurt; Editing by Jan Harvey)