April 1, 2019 / 1:25 PM / 6 months ago

ECB's de Guindos says weaker growth is drag on prices

FILE PHOTO: Vice-President of the European Central Bank Luis de Guindos speaks during an event marking Latvia's five years with the Euro in Riga, Latvia January 7, 2019. REUTERS/Ints Kalnins/File Photo

FRANKFURT (Reuters) - Slower economic growth in the euro zone is dragging down prices, which are taking longer to converge to the European Central Bank’s 2 percent inflation target, the ECB’s vice president said on Monday.

“The weaker growth momentum will leave its mark on domestic price pressures, slowing the adjustment of inflation towards our aim,” Luis de Guindos told members of the European Parliament.

Reporting By Francesco Canepa

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