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ECB Chief Acknowledges that Food and Energy Costs are Exploding While Ben says "Inflation is Low"

By BRIAN BLACKSTONE And MARCUS WALKER

Inflation fears—fueled by spiraling food, oil and raw material prices—are mounting around the globe, prompting the head of the European Central Bank to signal that it could raise interest rates in the future even though some countries have been weakened by the Continent's debt crisis.

In an interview with The Wall Street Journal ahead of this week's annual meeting of the World Economic Forum in Davos, Switzerland, Jean-Claude Trichet warned that inflation pressures in the euro zone must be watched closely, and urged central bankers everywhere to ensure that higher energy and food prices don't gain a foothold in the global economy.

http://online.wsj.com/article/SB1000142405274870339850457609...




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