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MNI BRIEF: EU Inflation Seen higher, Growth To Slow: Brussels

(MNI) LONDON
(MNI) London

Inflation is expected to remain well above the European Central Bank's 2% target in 2022 and 2023 according the European Commission's latest round of forecasts, with overall growth also set to slow markedly on the levels forecast as recently as February, the Spring Economic forecasts published Monday show.

Impacted by higher energy prices as the war in Ukraine rumbles on, inflation in the eurozone is now seen at 6.1% in 2022 and 2.7% in 2023, revised higher from 3.5% and 1.7% laid out in the Winter Forecast three months ago.

Growth is now seen at an annual 2.7% in 2022 and 2.3% in 2023 -- both down on the 4.0% and 2.7% seen in February.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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