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To: yard_man who wrote (166338)	5/16/2002 5:17:27 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

Duisenberg/Inflation -2: Follows Higher April Price Data FRANKFURT (Dow Jones)--The European Central Bank is "less than entirely satisfied" with recent trends in euro zone inflation, ECB President Wim Duisenberg said Thursday. "Recently published inflation forecasts, developments in indicators of inflation expectations and recent trends in wages neither clearly confirm nor entirely defuse the risk of an entrenchment of upward tendencies in prices," Duisenberg said in a speech. "At this juncture, it is therefore particularly important to remain vigilant with regard to the further evolution of the key factors determining future price developments," Duisenberg said. Duisenberg noted the recent rise in the market price for crude oil "tends to slow the fall in HICP inflation," but stressed that, despite this, "long-term expectations of inflation have been remaining below 2%" - the ECB's definition of price stability. In his speech, Duisenberg made no mention of specific wage negotiations. But late Wednesday, Germany's main metal industry union, IG Metall, agreed with employers on a 4% rise in wages, starting in June. And there have been signs of growing inflation pressures in the zone: earlier Thursday Eurostat revised its April estimate for the euro-zone harmonized index of consumer prices, or HICP, to a year-on-year rise of 2.4% from 2.2%, following higher-than-expected inflation data from Spain, France, Portugal and the Netherlands. (MORE) Dow Jones Newswires 16-05-02