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Italy Economy to Face Hardest Blow From Surging Gas Price

Italy Economy to Face Hardest Blow From Surging Gas Price

Italy Economy to Face Hardest Blow From Surging Gas Price

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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