Euro zone ministers expect inflation to slow in 2022

FILE PHOTO: A customer shops for vegetables at a Monoprix supermarket operated by Casino Group, following the outbreak of the coronavirus disease (COVID-19), in Paris, France August 7, 2020. REUTERS/Benoit Tessier/File Photo

LUXEMBOURG (Reuters) - The acceleration of euro zone inflation, driven energy prices, is mostly temporary and price growth will slow down again next year as forecast by the European Central Bank and the European Commission, euro zone finance ministers agreed on Monday.

Paschal Donohoe, who chaired the talks of the ministers in Luxembourg, told a news conference said there was also agreement that the inflation spike was not an argument against the transition to renewable sources of energy under the EU’s ambitious plan of reducing CO2 emissions to zero by 2050.

Reporting by Jan Strupczewski