For 2023 as a whole, inflation was forecast to be 5.6% within the eurozone and 6.3% across the entire EU.
Inflation peaked last October at 10.6% in the eurozone but has been falling since, reaching 8.5% in January.
The EU believes that falling gas prices, partly as the EU secures alternative sources of supply and compensates for the halt of Russian imports, explain this but it warns that pressures on the prices of other goods is less likely to decrease.
"The decline was driven mainly by falling energy inflation, while core inflation has not yet peaked," the Commission said.
. . . . . . 🧅Disclaimer :There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, and money market funds involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods. This is Not Financial Advice 🧅JUST AN OPINION OF THE ONION.🧅