The staff of the European Central Bank (ECB) raised the entity’s projections for average inflation in the euro zone this year, in 2023 and 2024.
The information is contained in the ECB’s monetary policy statement released this Thursday (15) which also informed the decision to raise interest rates by 50 basis points.
According to the entity’s staff, average inflation for 2022 should be 8.4%, compared to 8.1% in the last projection, released in September. For 2023, average inflation should be 6.3%, compared to 5.5% previously, while the forecast for 2024 rose from 2.3% to 3.4%.
In 2025, the period included in the projections for the first time, average inflation will be 2.3%, estimates the ECB staff.
Core inflation should be 3.9% in 2022, 4.2% in 2023, 2.8% in 2024 and 2.4% in 2025, he adds.
For the Gross Domestic Product (GDP) of the euro zone, ECB staff projects growth of 3.4% in 2022, from 3.1% in the September projection. In 2023, the bloc’s economy will rise by 0.5%, below the last estimate of an increase of 0.9%.
For 2024, the ECB expects a rise of 1.9% in GDP, maintaining the previous projection. Finally, the euro zone economy should grow 1.8%, predicts the entity.
Source: CNN Brasil
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