Bank of Ireland Markets Update: Inflation in Germany rises to highest level in 3 years as Coronavirus restrictions ease

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“Inflation in Germany rose to its highest level in three years, coming in above expectations at 2.4% as Europe’s biggest economy eases its coronavirus restrictions. Inflation is expected to rise to 4% in Q4 in Germany and to 2.8% in the Eurozone, driven by pent up demand combined with low inventories across many sectors, global supply chain disruptions and higher commodity prices which have led to price increases.

Central banks including the European Central Bank are side-lined and continue to view the recent rise in inflation as temporary, however the recent increase in market based inflation expectations suggest the risks are to the upside for the inflation outlook.”

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