Mumbai, May 21 -- The European Union's executive commission cut its growth outlook and predicted higher inflation due to sharply higher energy prices from the war in Iran - but said the economy will avoid an outright recession. "As a net energy importer, the EU's economy is highly susceptible to the energy shock caused by the conflict in the Middle East," the commission said in a statement Thursday. The rising cost of fuel "means higher household bills and surging business costs that reduce profits for many industries". After reaching 1.5% in 2025, EU GDP growth is now projected to slow down to 1.1% this year-0.3 pps, lower than in the Autumn 2025 Forecast-while inflation is expected to rise to 3.1%, an upward revision of a full percentage ...