ECB chief notes risk of low inflation
European Central Bank chief Draghi notes risk of inflation remaining low
Associated Press
2014-05-27 11:42 PM

SINTRA, Portugal (AP) -- European Central Bank President Mario Draghi says he is mindful of the danger of inflation remaining low in the 18-country eurozone, but declined to specify what action might be taken to address it.

The inflation rate among countries using the shared euro currency has been below 1 percent since October. The ECB's inflation target is 2 percent.

Low inflation is worrying because it makes debt reduction more difficult for people and governments. Deflation, an extended drop in prices that can stifle growth, has also become a concern.

Draghi told a business forum in Portugal on Tuesday he is "aware of the risk of a too-prolonged low-inflation period" but he did not elaborate.

The ECB's monthly policy meeting next week is widely expected to announce new measures on inflation.

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