Italy Economy to Face Hardest Blow From Surging Gas Price

(Bloomberg) -- Under a scenario where the war in Ukraine keeps energy supply insecure and prices high for the rest of 2022, Bloomberg Economics expects euro-area inflation to peak close to 8% and average nearly 7% this year. As energy costs fall back next year, inflation could slow to 0% by late 2023. Italy is hardest hit, with high gas reliance and little protection for consumers. Spain will also take a big blow, while German and French consumers will be less affected.

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