Euro-Zone Inflation Outlook Raised by EU on Surge in Core Prices
- Commission officials say underlying gauge will stay ‘elevated’
- EU’s economic growth forecasts raised for 2023 and 2024
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The European Commission raised its euro-zone inflation outlook and warned of “persistent challenges” even as it acknowledged the resilience of the region’s economy.
Citing the strength of underlying pressures, European Union officials lifted their projections for consumer-price growth to 5.8% this year and 2.8% in 2024 from 5.6% and 2.5% respectively. Forecasts for economic expansion were also increased throughout the horizon.