ECB's Issing says oil clouding inflation outlook

European Central Bank chief economist Otmar Issing has said the inflation outlook for the euro zone has deteriorated in the past month.

"The outlook for price developments has got decidedly gloomier since June," Issing told journalists at a dinner on Wednesday, in remarks embargoed until Thursday.

"But it still hasn't altered the chance of getting inflation below 2 percent in 2006. For this year you can't put a figure on it as it depends on the price of oil," he said.

Issing reiterated the ECB's

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