AI Summary

EU officials warned that oil and gas prices will stay high through at least the end of 2027, citing the Iran war’s impact on inflation and growth. After a eurozone finance ministers’ meeting in Cyprus, EU Economy Commissioner Valdis Dombrovskis said elevated energy costs are now projected to push inflation to 3.1% this year and 2.4% in 2027, above the bloc’s earlier 1.9% forecast. The focus has shifted from fuel prices alone to broader economic pressures.

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