Commissioner Gentiloni: "Outlook for European inflation and purchasing power is very good"

European Commissioner for the Economy, Paolo Gentiloni, has said that the outlook for European inflation and purchasing power is "very good".

Gentiloni made the comments in an interview with the Italian newspaper La Stampa, published on 10 March 2023. He said that the European economy is "recovering strongly" from the COVID-19 pandemic, and that this is being reflected in rising inflation and purchasing power.

Gentiloni said that the European Central Bank (ECB) is "doing the right thing" in raising interest rates to combat inflation. He said that the ECB is "independent" and will take the necessary steps to ensure that inflation remains under control.

Gentiloni also said that the European Union (EU) is "committed" to supporting the European economy and its citizens. He said that the EU will continue to provide financial assistance to countries that are struggling with the economic impact of the COVID-19 pandemic.

The comments from Gentiloni come at a time when the European economy is facing a number of challenges, including the war in Ukraine and the rising cost of energy. However, Gentiloni said that he is "confident" that the European economy will continue to recover strongly in the coming months.

Conclusion:

Commissioner Gentiloni's comments are a positive sign for the European economy. They suggest that the EU is taking the necessary steps to ensure that the economy continues to recover strongly from the COVID-19 pandemic. His comments will also be welcomed by businesses and consumers who are facing rising costs of living.