Экономика Европы демонстрирует неожиданный рост, но инфляция остается устойчивой

Описание: European Central Bank President Christine Lagarde says the euro area has delivered two major surprises: stronger-than-expected economic growth and lower-than-expected inflation.

But there is a catch.

While inflation has been softer than the ECB previously expected in some areas, particularly food, Lagarde warned that it now appears likely to remain elevated for longer.

The ECB has therefore revised its projections.

Lagarde said the euro-area economy has proven more resilient than anticipated, prompting the ECB to raise its 2026 growth forecast from 0.8% to 0.9%.

She added that recent data released after the projection cut-off date suggest growth could effectively be even stronger.

Second-quarter growth came in at 0.6%, which Lagarde described as an upside surprise.

For the ECB, this indicates that the European economy is adapting better than expected to the shocks it has faced.

Inflation has also surprised policymakers — but in a different way.
Lagarde said price pressures have been lower than anticipated, especially for food.
At the same time, however, inflation is expected to prove more persistent.

The result is an unusual combination:
More economic resilience.
Better adjustment.
Lower inflation than expected in the short term.
But inflation that could last longer.

That changing picture is now shaping the ECB’s updated economic projections and its future monetary policy decisions.
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