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.
