ECB's Mersch eyes price falls but not deflation -DJ

BRUSSELS, Nov 21 (Reuters) - Euro zone prices may fall for one or two months next year, but the region is not facing deflation, Yves Mersch, a member of the European Central Bank's governing council, said in an interview with news agency Dow Jones.

"I would not rule out that over one or two months we might have a falling price index," Mersch, the governor of the Luxembourg central bank, said in the interview, published late on Thursday.

"We have to look beyond such short-term falls in prices, just as we looked beyond short-term increases when commodity prices spiked," he continued. (Writing by Philip Blenkinsop; Editing by Clarence Fernandez)