Germany’s Central Bank is warning about the highest levels of inflation in a very long time.
RT:
Germany is about to see its highest inflation in decades, the president of its central bank, Joachim Nagel, told the Rheinische Post on Saturday, adding that the country might fall into a recession.
“An inflation rate of even 10% is possible in the autumn months,” Nagel told the paper, adding that the latest surge in energy prices caused by reduced supplies from Russia – Germany’s major supplier – is likely to drive consumer prices further up.
“Double-digit inflation rates were last measured in Germany more than 70 years ago,” the Bundesbank president added. The nation saw a similar inflation level back in 1951 when it reached 11%, according to calculations made at that time, according to German media.
The situation in the national economy is likely to remain tense next year as well, Nagel warned, adding that “the issue of inflation will not go away in 2023” since “supply bottlenecks and geopolitical tensions are likely to continue.”
The 10 percent number is a lie. The inflation is absolutely much higher than that. All you have to do is look at the out of control energy and food prices not just in Germany but all around Europe.
Germany and the rest of the continent is plunging into a depression. All because they had to lock everything down to fight a virus that 99.7 percent of people survive and to ensure the homosexual rules-based order of gay Jewish democracy in the Ukraine.
Quite frankly, I don’t think the price was worth it. The only silver lining to this is that the last time Germany experienced hyperinflation, it resulted in a great man coming to power who fixed all their problems.
