Inflation in Europe may have peaked as the overall economic situation on the continent improves, European Commission Vice-President Valdis Dombrovskis said.
(Bloomberg) — Inflation in Europe may have peaked as the overall economic situation on the continent improves, European Commission Vice-President Valdis Dombrovskis said.
“Oil and gas prices have come down, the price cap imposed on Russian oil is working successfully, labor markets remain strong, inflation may have peaked,” Dombrovskis said during a press conference in Brussels on Tuesday. “There are signs of improvement of economic sentiment.”
Dombrovskis said these considerations will be reflected in the commission’s winter economic forecasts to be presented early next month.
European Economy Commissioner Paolo Gentiloni said on Monday that “the inflation rate declined markedly in December, with headline inflation appearing to have peaked, though this is not yet the case for core inflation.”
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