The GuardianThe Guardian

EU growth forecast cut as war in Ukraine fuels inflation

By Larry Elliott

16 May 2022 · 2 min read

The growth prospects for the EU have been revised sharply downwards after Russia’s invasion of Ukraine put paid to hopes of a strong and sustained recovery from Covid-19 over the next two years.

Rocketing energy prices as a result of the conflict have pushed up inflation and increased economic headwinds during a period when they were expected to subside, the European Commission said in its latest forecasts.

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