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Ewald Nowotny, a policymaker at the European Central Bank, said consumer prices in the euro zone may grow 0.8 percent in 2015.
"In the euro area for 2015 we expect very low inflation rates....something like 0.8 percent, and this is headline inflation," he said in an address in Budapest, quoted by Reuters. The policymaker was citing very strong decreases in the prices of oil and commodities.
He added that central banks with political
independence could always kill off inflation.
"We have strong weapons against inflation. It is much more difficult against deflation," he said.
