Economics
Europe’s Price Shock Will Last Longer With Less Growth, EU Says
- EU commission cuts 2023 growth projection to 1.4% from 2.3%
- Inflation is now seen averaging 7.6% this year, 4% in 2023
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Europe’s economy now faces a “significantly slower” outlook as well as a bigger and more enduring cost-of-living shock than just two months ago, the European Commission said.