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EU's Almunia sees inflation down, stagflation risk

Jul 18, 2008
Story Timeline:  87 days

HELSINKI, July 18 (Reuters) - Inflation in the euro zone can drop to close to 2 percent next year, but there is still a risk of stagflation, the EU's monetary affairs commissioner was quoted as saying on Friday. 'The future (of inflation) depends solely on what happens on the global markets. It is anyhow possible that next year inflation could be close to the ECB target level,' Joaquin Almunia told Finnish daily Kauppalehti. ECB targets inflation of below but close to 2 percent. Almunia said: 'Although there is a risk of stagflation and I am worried about it, I hope we can avoid the difficult situation.' He also said economic growth in the EU had weakened in the second quarter and that inflation and market uncertainty had an impact on growth. (Reporting by Sakari Suoninen; Editing by Ben Tan) Keywords:... [read full story]                    

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Latest article on this story:

EU's Almunia Sees Combined Threats of Slow Growth and Rising Inflation in Europe

economicnews.ca Jul 18, 2008
First article on this story:

EU's Almunia Sees Combined Threats of Slow Growth and Rising Inflation in Europe

economicnews.ca Jul 18, 2008
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