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

(MNI) London
(MNI) London

Higher prices and slower growth seen as impact of Ukraine war reflected in latest Brussels forecasts.

True

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.

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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.

Keep reading...Show less