Bloomberg News

ECB Nowotny Says Inflation Fears Not Justified as Prices Peaked

October 10, 2011

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

To contact the reporters on this story: Zoe Schneeweiss in Vienna at zschneeweiss@bloomberg.net; Christian Vits in Frankfurt at cvits@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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