AFP: ECB voices concern over growing inflation in Euro-Zone

For the complete report from the AFP click on this linkECB voices concern over growing inflation in Euro-Zone

The European Central Bank is tracking inflation to ensure it does not swell in the 13-nation eurozone, which benefits at present from a sound economy and strong job growth, the bank said Thursday. The ECB's latest analysis "fully confirmed that the outlook for price stability over the medium term is suject to upside risks," it said in its monthly bulletin for November. The wording matched that of ECB president Jean-Claude Trichet on November 8, when the bank left its primary interest rate unchanged at 4.0 percent amid rising prices and persistent tensions in eurozone money markets. At the same time, a survey of professional forecasters contained within the report suggested that slowing economic activity and the euro's rise against other major currencies should help keep inflation in check through 2009.