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Germany 2023 inflation to hit 8.8% as economy shrinks

Soaring price of energy weighs on households and businesses

29 September, 10:38
(ANSA-AFP) - FRANKFURT AM MAIN, SEP 29 - Inflation will keep rising in Germany next year while the economy goes into recession, as the soaring price of energy weighs on households and businesses, the country's leading economic institutes said in a forecast published Thursday. The pace of consumer price rises would "increase further over the coming months", hitting an annual rate of 8.8 percent in 2023, the think tanks said in a joint statement. Europe's largest economy would also shrink by 0.4 percent next year, they estimated. (ANSA-AFP).

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