BERLIN – The German government expects consumer price inflation to surge to 2.9% this year and ease to 2.2% next year, a source told Reuters on condition of anonymity.
In its updated economic forecasts, the government expects inflation to ease further to 1.7% in 2023, the source said. The figures compare with a consumer price inflation of 0.6% in 2020.
Economy Minister Peter Altmaier will present the updated economic forecasts during a news conference on Wednesday. A spokesperson for the Economy Ministry declined to comment.