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ECB will look though oil-fuelled inflation bounce

Staff Writer | February 2, 2017
The European Central Bank (ECB) will look through the recent spike in inflation, which it mostly attributes to a stabilisation in oil prices, as growth in the price of other goods and services remains subdued.
European Central Bank
Europe   Changes in headline inflation
"As expected, headline inflation has increased recently, largely owing to base effects in energy prices, but underlying inflation pressures remain subdued," the ECB said in its economic bulletin.

Is is repeating its January 18 policy message "The Governing Council will continue to look through changes in (headline) inflation if judged to be transient and to have no implication for the medium-term outlook for price stability."