There are forces in the global economy that are "conspiring" to hold down inflation, President of the European Central Bank (ECB) Mario Draghi said Thursday. "Those forces might cause inflation to return more slowly to our objective," Draghi added. However, "there is no reason why they should lead to a permanently lower inflation rate," he continued. Forces influencing the inflation rate include demographic change, aging populations, the long-term cycle in commodity prices and technological change including e-commerce, the ECB chief said.
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