Sep 12, 2023
On the Eurostas website, inflation data for the Eurozone and the European Union reveals a decrease when compared to the peak observed nearly one year ago. Nevertheless, as reported by Euronews, the European Commission has revised its economic projections downward, citing that continuously high prices for goods and services are exerting a more substantial adverse influence than originally foreseen.
In 2023 and 2024, it is anticipated that inflation within the nations utilizing the common currency will climb to 5.6% and 2.9%, respectively. However, these figures still fall significantly short of the European Central Bank's (ECB) annual target of 2%, which it aims to attain through interest rate increases.