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Exclusive-German govt expects inflation to surge to 2.9% in 2021 - source

From beers to cars, German consumers face higher prices
From beers to cars, German consumers face higher prices Copyright Thomson Reuters 2021
Copyright Thomson Reuters 2021
By Reuters
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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.

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