Consumer Prices – Inflation Continues to Rise – Economy

The federal government expects inflation to skyrocket again this year. According to a document on the spring forecast, the inflation rate is likely to be 6.1 percent. In 2023 it should then be 2.8 percent. The government’s estimate from the end of January is thus increased by a whopping 2.8 percentage points, and the forecast for 2023 is increased by 0.8 points. For comparison: in 2021 inflation was 3.1 percent. Federal Minister of Economics Robert Habeck (Greens) wants to present the details on Wednesday in Berlin. The growth forecast will be reduced, and the federal government does not initially expect any negative effects on the job market. The unemployment rate is likely to be 5.0 percent in both 2022 and 2023, after 5.7 percent in 2021.

source site