Exclusive-German government forecasts 2022 inflation at 3.1%

BERLIN - The German government expects inflation to reach 3.3% on average this year, after skyrocketing to 3.1% in 2021, according to a draft of the annual economic report seen by Reuters.

The government is still forecasting core inflation, excluding increases in food and energy prices, to be at 2.5% in 2022, said the draft.

The cabinet is expected to adopt the draft on Wednesday.