EC Cuts 2023 Euro Zone Economic Growth Forecast to 2.3% From 2.7% Seen in Feb

Inflation, which the European Central Bank wants to keep at 2.0% will be 6.1% this year, the Commission forecast and fall only to 2.7% next year. Before the war, the Commission expected prices to grow 3.5% in 2022 and 1.7% in 2023.

The forecast is the first comprehensive estimate of the economic cost of the war in Ukraine for the 19 countries sharing the euro and the wider 27 nation EU

The stagflation vibes continue