Growth in the European Union is expected to ease to 2% in 2008 and 1.8% in 2009 from 2.8% in 2007 (1.7% and 1.5% in the Eurozone from 2.6% in 2007), according to the Commission's spring economic forecast. The moderation in growth results from the persisting turmoil in the financial markets, the marked slowdown in the United States and soaring commodity prices, all of which are taking their toll on global activity. The EU economy is holding up relatively well thanks to sound fundamentals and is expected to create 3 million new jobs in 2008-2009 on top of the 7½ million in 2006-2007. But consumer price inflation is expected to surge temporarily to 3.6% this year in the EU against 2.4% in 2007 due to soaring energy and food prices, before coming down to an expected 2.4% in 2009 ( equivalent figures for Eurozone are 3.2% and 2.2% versus 2.1% in 2007).