Posted Jan 10, 2023, 5:12 PM
BERLIN, Jan 10 (Reuters) – Inflation in Germany is likely to have peaked after falling global energy prices, government economic adviser Monika Schnitzer said on Tuesday, expecting a further decline. natural gas prices this year.
“If nothing unforeseen happens, then we would have passed the peak,” she said in an interview with Reuters.
Inflation slowed in Germany for the second consecutive month in December, to 9.6% over one year, in a context of falling energy prices and public aid for households.
Monika Schnitzer believes there is no need for the European Central Bank (ECB) to raise interest rates by more than half a point at its next monetary policy meeting on 2 February. According to her, the ECB faces a difficult balancing act and must act proportionately.
The German government adviser also believes that the economic outlook has improved somewhat and that economic experts were “absolutely right” in their November forecast of 1.7% growth for 2022.
“Maybe it could even be a little higher,” she added.
Germany’s Federal Statistical Institute will release data on the country’s gross domestic product in 2022 on Friday. Analysts polled by Reuters expect economic growth of 1.8% last year. (Reportage Reinhard Becker, written by Riham Alkousaa, French version Claude Chendjou, edited by Sophie Louet)