According to a new report from the EU's executive body, the European Commission (EC), the executive body of the Union, recently lowered the percentage of expected inflation growth in the European Union (EU) for this year from 6.7 percent to 6.5 percent.
"A fall in inflation is expected to continue in the coming months. According to the announcement, the harmonized index of consumer prices is expected to drop by 6.5 percent this year and by 3.2 percent next year."- they said.
The Eurozone is expected to have an inflation rate of 5.6 percent this year, and 2.9 percent next year, according to a report published last week. The report indicated, however, that even with this decrease in inflation, the economy is expected to grow at a slower pace by 0.7 percent this year, and then 1.4 percent next year, compared to the 1.7 percent previously forecast.
Reports: European economies continue to grow
According to the European Commission, European economies continue to grow, but at a much slower pace than in the past. This is largely due to an increase in uncertainty in Europe, due to the ongoing war between Ukraine and Russia, as well as the consequences of COVID.
These factors are likely to cause further economic stagnation in the region and make it more difficult for Europe to reach its economic goals. This could lead to an economic slowdown, resulting in job losses and a decrease in consumer spending.
It could also lead to a decrease in foreign investment, further harming the European economy. Vladimir Putin is also afraid of inflation in Russia, as it could lead to a decrease in the value of the Ruble and a decrease in his power.
This is why he has implemented various measures to help stabilize the Russian economy, such as increasing the interest rate and cutting taxes. This economic situation worries Europe, but also the whole world. The question is how long this will last and whether the right solution can really be found.
Patience is the most important right now! Politicians from countries around the world call for patience, and believe that things will get better.