Inflation Rate in Germany Experiences Upward TrendThu 11th Jan, 2024The Federal Statistical Office of Germany has reported an uptick in the inflation rate for December. Cumulatively, 2023 witnessed an inflation rate of 5.9%, marking a notable decline from the initial 8% at the start of the year. Holger Schmieding, the chief economist at Berenberg, observes positive developments in the vacation sector: the inflation rate for package holidays dropped to 3% in December from 5.3% in November. Christine Lagarde, the President of the European Central Bank (ECB), projects a 2.7% inflation rate for the euro area this year, moderating to 2.1% subsequently. Krämer predicts a modest inflation decrease in the ensuing months but opines that a 3% inflation rate is more plausible than the previously envisaged 2%.

Source: The Munich Eye January 11, 2024 15:05 UTC