Salem Radio Network News Sunday, December 4, 2022


Euro zone inflation becoming increasingly broad, ECB’s de Guindos says

MADRID (Reuters) – Euro zone inflation is becoming increasingly broad while growth is weakening as the bloc is struggling with the fallout from Russia’s war in Ukraine, European Central Bank Vice President Luis de Guindos said on Monday.

“We are seeing that in the third and fourth quarters there is a significant slowdown and we may find ourselves with growth rates close to zero,” de Guindos told a conference.

Inflation is expected to have accelerated to 9.6% this month, a record high for the 19-country currency bloc, while underlying price growth, which filters out volatile food and fuels prices, is also seen accelerating.

(Reporting by Jesus Aguado and Emma Pinedo Gonzalez; writing by Balazs Koranyi; Editing by Catherine Evans)


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