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Benchmark projected to average 8.3% this year, according to the European Commission Inflation will hit 7.6% in the Eurozone and 8.3% in Europe as a whole this year, according to the European Commission’s revised forecasts on Thursday, 1.5% up on the previous predictions.

Global trade restrictions increase prices and exacerbate the food crisis, the organizations say The removal of trade restrictions would ease the global food crisis by minimizing supply disruptions and reducing prices, the World Trade Organization (WTO), World Bank and International Monetary Fund (IMF) said in a joint statement on Friday.