The Eurogroup expects inflation to decrease progressively this year

The Ministers of Economy and Finance of the eurozone They estimated that the general increase in prices will begin to decrease progressively throughout 2022, although they recognized that the highest peaks of inflation will continue for a longer period than they forecast last year.

This was stated by the president of the Eurogroup, Paschal Donohoe, at the press conference after the ministers’ meeting, where he admitted that the issue of inflation was raised in various ministers.

“We expect and recognize that higher levels of inflation are going to last for a longer period of time than we estimated last year. But overall, we still expect the inflationary pressures in place right now to start to ease as this year progresses.”

In this sense, Donohoe explained that the ministers expect inflation to decrease as the level of savings moderates and the supply chains of different sectors of the European economy improve.

The president of the Eurogroup affirmed that he is aware of the “challenges” that inflation “imposes” on citizens and companies, especially those derived from the rise in energy prices, and maintained that all ministers seek to respond with “measures appropriate” within the eurozone economy itself.

“We appreciate the impact that these high prices are having on living standards and the ability to do business, but at this point we equally believe that as we go through the year this level of pressure will start to moderate and improve.” Donohoe summed up.