November 16, 2017 / 11:08 AM / 4 months ago

Euro zone inflation not greatly impacted by oil price surge: ECB's Jazbec

LJUBLJANA (Reuters) - Inflation in the euro zone is moving along the path envisaged by the European Central Bank and the recent rise in oil price does not have a major effect on it, ECB Governing Council member Bostjan Jazbec said on Thursday.

A empty price board indicates that no gas is available at a Total petrol station in Vertou, France, May 21, 2016. REUTERS/Stephane Mahe/File Photo

“Inflation rates are moving in line with the expectations and projections of the European Central Bank,” the Slovenian central bank governor told Reuters on the sidelines of a conference.

“The changes of oil price by themselves do not have a major influence unless there is a long-term movement of prices. At this moment they represent just one of the factors that are being used by the ECB in forecasts and projections,” Jazbec added.

Reporting by Marja Novak; Writing by Balazs Koranyi; Editing by Francesco Canepa

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