Inflation in Germany could hit a 70-year high of 10% amid Russia's natural-gas squeeze, German central bank chief says
rose to a 40-year-high of 7.5% in July from a year ago, primarily due to high energy prices, according to the statistics office.
The German central bank had in June forecast 2023 inflation to reach 4.5%, but Nagel told Rheinische Post that price gains are likely to average over 6% instead.Rhine to dry up,"If further delivery problems are added, for example due to prolonged low water levels, the economic prospects for the second half of the year would deteriorate further," Nagel told the German media outlet."As the energy crisis deepens, a recession appears likely next winter.
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