The European Union's economy commissioner Paolo Gentiloni spoke in a Bloomberg interview, sticking to the line that inflation is transitory:
- "We are monitoring euro-area inflation -- we should monitor it very accurately -- but without making conclusions too soon"
- "I think it would be a big mistake, because the mainstream consensus is on the fact that this inflation is still a temporary phenomenon."
His comments come ahead of the European Central Bank meeting this week.
The spot from Bloomberg TV is available here (may be gated).