The EU will cut growth outlook, raise inflation forecast as Iran war drives 'stagflationary shock'

The EU will downgrade its growth forecast because of the "stagflationary shock" caused by the Iran war, the bloc's commissioner for the economy told CNBC. Valdis Dombrovskis, European Commissioner for Economy and Productivity, told CNBC's Charlotte Reed that the spring forecast, released later this week, will see economic growth figures adjusted down and inflation figures up. …