Inflation to fall below 2% in 2013: ECB's Draghi (by Kim Hjelmgaard)

LONDON (MarketWatch) -- Inflation in the euro area should fall below 2% in 2013, although it is likely to stay above that level for 2012, European Central Bank President Mario Draghi said on Wednesday in Frankfurt. Draghi said that it shouldn't be necessary, referring to the inflationary characteristics of individual nations, to "inflate the good performers" to achieve that 2%, and that the competitiveness of the best performers should also not be put at risk. Inflation in the 17-nation euro zone slowed to a 2.6% annual pace in March, down from 2.7% in February, the European Union statistical agency Eurostat reported last week. The ECB targets inflation close to but below 2% in the medium term.