German government to hike 2022 inflation forecast to 6.1% – document – Reuters

Reuters are reporting that the German government is hiking its inflation forecast for this year to 6.1% due to the impact of the war in Ukraine, up from 3.3% it had forecast in January, according to government document seen by Reuters.

Berlin, which is due to present its spring forecasts on Wednesday, sees consumer price growth easing to 2.8% in 2023, the document showed.

A source had told Reuters on Friday that Berlin was set to cut its growth forecast for Europe’s biggest economy for 2022 to 2.2% from 3.6% and saw growth picking up slightly to 2.5% in 2023.

~ My stagflation sense is tingling.

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