MNI BRIEF: EU Gentiloni Sees Inflation Pick-Up Again In March

Inflation across the European Union is likely to rise still higher, following the 6.2% recorded in February (5.8% EZ), Economy Commissioner Paolo Gentiloni said Monday. Speaking after a meeting with the Romanian finance minister in Bucharest, Gentiloni also warned again on EU growth prospects and noted the negative impact on economic confidence, resulting from the war in Ukraine:

“Our economies were strongly reopening after the pandemic crisis at the beginning of year, and we expected at EU level and in Romania, strong growth of around 4%. Of course, the impact of the war will affect this growth and we see already the impact on inflation – it climbed 6.2% in the EU and 7.9% in Romania in February - and we can expect these figures to go further.”

“And we are seeing a certain level of uncertainty bringing down confidence among consumers and investors,” he continued.

Eurozone flash, or preliminary inflation data will be released Friday April 1 at 1000BST.