In commenting the current macroeconomic figures, Commissioner Almunia adds: "it is essential to go on with the reform plan" in the member states "to keep creating jobs and be able to face external shocks better". Despite the further slowdown of the markets, "we cannot give up on the urgent structural reforms"; "we must speed up the implementation of our schedule to give confidence again to the financial markets and preserve the improvements of public finance, so as not to increase the burden on the future generations who will have to face the problems of the ageing of the population already". According to the tables published by the EU Commission, because of the rise in the cost of raw materials, this year’s inflation should be around 3.8% in the 27 member states and 3.6% in the euro-zone. "This is an upward revision specifies Almunia -, even if inflation might have reached a turning point, since over the next few months the impact of the past rises in energy and food prices should gradually decrease". In addition, the internal consumption demand seems to have slowed down too. (continued)
