Azerbaijan, Baku, 11 August / corr. Trend A. Badalova / Annual inflation ratio level will remain higher than the level, which is considered the sign of price stability (2%), Jan-Clod Trishe, the head of the European Central Bank (ECB), said at a news conference held as a result of ECB's meeting.
According to Trishe, inflation level will begin to reduce moderately in 2009.
"Risks for price stability in medium term level remain higher. Moreover, they rose in last months. The risks include opportunity of further price rise on food products and energy resources," Trishe said.
According to the preliminary data of the Eurostat statistics bureau, in July 2008, inflation ratio in 15 countries, which entered the Euro zone, reached 4.1% of a new historical maximum in annual calculations. In June 2008, the growth of consumer prices amounted to 4% comparing with 3.7% in May.
According to Trishe, in mid-2008, a real growth of the Gross Domestic Product (GDP) of the Euro zone is considerably lower than it was in the first quarter.
"Weakening of the GDP's growth is because of these factors, including high volatile prices on oil and food products," Trishe said.
The ECB's head said that the growth of the world economy remained stable most of all because of the stable growth of the developing economies.
According to Trishe, this should support foreign demand for Euro.
"Basic indexes of Euro are stable enough in the medium-term perspective. The level of employment considerably rose and the level of unemployment remains low," Trishe said.
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