Oct. 10 (Bloomberg) -- European Central Bank Governing Council member Ewald Nowotny said inflation fears are unfounded as prices will peak in the fourth quarter and retreat afterwards.
“All economic forecasts anticipate that inflation rates will peak this quarter and decrease in 2012,” Nowotny said in a panel discussion in Vienna today. “However, fear is justified on the development of the real economy,” he added.
--With assistance from Jeff Black in Frankfurt. Editor: Zoe Schneeweiss
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