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German inflation rate to ease over course of 2023 – econ minister
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BERLIN (Reuters) – German inflation will remain high at the beginning of 2023 before easing over the course of the year, Economy Minister Robert Habeck said on Thursday.
BERLIN (Reuters) – German inflation will remain high at the beginning of 2023 before easing over the course of the year, Economy Minister Robert Habeck said on Thursday.
“We have broken the inflation trend,” Habeck said in his address to the Bundestag regarding the annual economic report.
Inflation is seen at 6% in 2023, as energy prices ease following the initial shock of the energy crisis triggered by the Ukraine war, according to the economic report published on Wednesday.
Regarding the economic report for 2023, he said the numbers were not good, but significantly better than feared some months ago. Gross domestic product is forecast to grow by 0.2% this year, up from the autumn forecast of a 0.4% decline.
In 2024, inflation will be lower than in 2023 and growth will be higher, he added.
(Reporting by Christian Kraemer. Writing by Maria Martinez; Editing by Paul Carrel)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is often measured by the Consumer Price Index (CPI).
Monetary policy is the process by which a central bank manages the supply of money, interest rates, and inflation to achieve economic objectives such as controlling inflation and stabilizing currency.
Economic growth refers to the increase in the production of goods and services in an economy over time, typically measured as the percentage increase in real GDP.
Financial markets are marketplaces where buyers and sellers engage in the trade of assets such as stocks, bonds, currencies, and derivatives, facilitating capital flow and investment.
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