ECB Must Continue to Monitor Underlying Inflation, Guindos Says

The European Central Bank must continue monitoring underlying inflation as it determines what dose of monetary-policy tightening is needed to tame record price gains, according to Vice President Luis de Guindos.

With analysts estimating that headline inflation in the 19-nation euro zone eased for the first time in 1 1/2 years this month, the focus among officials may now shift to price gauges that exclude items like energy and food.