July 3, 2022

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German financial system nightmare: Traders panic as inflation smashes highest stage in final 40yrs

Since February it has fallen from 54.3 factors.

The worsening outlook is underscored by inflation readings from Germany with earlier estimates of seven.3 p.c for March confirmed as we speak.

The figures put inflation properly past its highest stage since reunification with comparisons to the state of affairs following the beginning of the Iran-Iraq conflict which additionally produced a shock for vitality costs.

Dr Georg Thiel, President of the Federal Statistical Workplace, stated: “Along with the COVID-19 pandemic, the Russian conflict towards Ukraine now additionally has a marked impression on the speed of worth enhance in Germany, particularly for heating oil, motor fuels and pure fuel in addition to some meals merchandise.”

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