Inflation in Germany in September may reach a record 10%
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The consumer price index in Germany in September is expected to grow by 10% in annual terms, reported Federal Statistical Office of the country. This will be a record high since German reunification.
Compared to August, inflation in the country, according to the forecast, will grow by 1.9%. Last month, the annual growth rate of consumer prices was 7.9%.
Meanwhile, Germany’s leading research institutes issued a joint forecast on the state of the German economy in the coming years.
The forecast was prepared by the Munich Institute for Economic Research, the Institute for World Economics in Kiel, the RWTH Institute for Economic Research in Essen and the Institute for Economic Research in Halle. Economists from these institutions predict that German GDP will grow by 1.4% this year against 2.6% in 2021. And next year, the country’s economy will slide into recession, shrinking by 0.4% in 2023. However, experts predict that in 2024 the German economy will return to growth and by the end of the year its GDP will increase by 1.9%.
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