Germany: Inflation to stay high two more years — top adviser
Inflation in Germany is predicted to stay elevated for another two years, a senior government adviser warned Saturday. “Inflation will also be an issue in 2024, and only thereafter will we maybe see it returning to 2%,” Monika Schnitzer, chair of the German Council of Economic Experts, told the Rheinische Post newspaper. Schnitzer said inflation would remain high because of so-called second-round effects as producers pass on higher costs to consumers and businesses. She accused some firms of significantly exaggerating their price rises. Her comments contrast with a report by the Munich-based Ifo institute last week
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