Inflation in the euro area will continue to rise until the end of 2022
A survey showed that inflation in the euro area rose to 7.5% in March, and economic growth is expected to shrink to 0.4% in the first quarter of this year, and the eurozone economy will grow by 2.9% in 2022 as a whole and by 2.3% in 2023.
Inflation expectations rose this year for the tenth consecutive survey to 7.3% from 5.3% in the second quarter, to 6.9% from 4.5% in the third quarter and to 5.8% from 3.3% in the fourth quarter, and unemployment in the euro area is expected to rise after declining to 6.8% in February. Growth forecasts for 2022 in Germany, Europe's largest economy, were almost halved to 2.2% from 4.0%, the projected growth rate in France was cut to 3.2% from 3.7% and growth in Italy was cut to 2.8% from 4.2%.