BERLIN, March 30 (Reuters) - The euro zone economy is picking up strength but the European Central Bank is still not yet convinced that the recent inflation rise will be durable, with prices moving towards its target in a sustained way, chief economist Peter Praet said on Thursday.
“The firming of the recovery has not yet translated into a durable strengthening of inflation dynamics. Headline inflation has increased, but for the most part this reflects rising energy and food price inflation,” Peter Praet, Praet told a conference in Berlin.
“Underlying inflation pressures continue to remain subdued. We are not yet sufficiently confident that inflation will converge to levels consistent with our aim in a durable manner,” he added. (Reporting by Andreas Framke)