Article source
Wall Street Journal
Article date
Thu, Jan 5, 2017
PARIS—It is too soon for the European Central Bank to declare victory in its attempt to stoke inflation after a sharp acceleration in consumer prices in December, executive board member Yves Mersch said Friday.
Mr. Mersch’s comments came after data on Thursday showed that eurozone consumer prices rose 1.1% in December from a year earlier, the fastest rate of growth since September 2013. That pushes inflation back toward the ECB’s 2% target, but Mr. Mersch said the ECB never reacts to individual figures.
“It is absolutely premature today to declare victory over the weak economy. We have good results, but it’s absolutely premature to say we should drop our guard,” Mr. Mersch said.
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