2024-05-21 20:40:15
The EU barely minimize its inflation projection for this yr within the eurozone to 2.5%, and left unchanged its forecasts for the trajectory of the eurozone. GDPhowever warned concerning the “excessive geopolitical dangers” for the bloc.
In its spring financial projections, the European Fee (govt arm of the EU) minimize its earlier inflation projection by two tenths, which it offered in February and pointed to 2.7%.
In relation to GDP, it maintained its forecast of a modest progress of 0.8% this yr within the eurozone, made up of 20 international locations within the bloc that use the frequent foreign money. For the European Union as an entire – that’s, together with international locations that don’t use the Euro as foreign money – the Fee projected a progress of 1% in 2024 and 1.6% in 2025.
The gradual contraction of inflation “can be pushed primarily by non-energy items and meals,” the European Fee indicated in a notice.
The Fee’s specialists anticipate that within the EU as an entire, made up of 27 international locations, inflation “will observe an analogous trajectory, though it can stay barely increased” than that of the eurozone.
“Our forecasts stay topic to nice uncertainty and – with two wars not removed from residence – the draw back dangers have elevated,” mentioned the European Commissioner for the Financial system, Paolo Gentiloni. /AFP
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2024-05-21 20:40:15