It is reported by RIA Novosti with reference to the spring economic report of the EC.
The commission also lowered its forecast for eurozone GDP growth for 2023 to 2.3% from the February estimate of 2.7%.
“The main blow to the global economy and the EU economy is caused by energy prices.
While prices had risen significantly prior to the Ukraine situation from low levels recorded during the pandemic, supply chain uncertainty has put pressure on prices, while increasing their volatility,” the European Commission said.
This applies to food and "other basic goods and services", while the purchasing power of households is declining, the EC noted.
As reported on May 13, in Spain, prices for food and non-alcoholic beverages rose by 10.1% in April this year compared to last year.Keywords: