German inflation hit40Strong expectations of a significant interest rate hike by the European Central Bank, with a new high for the year

2022-8-31 11:27| Publisher: 2233| see: 309| comment: 0|come from: FTChinese

abstract: Consumer prices in Europe's largest economy, driven by soaring energy and food costs, have risen to8.8%of40Annual high point. As of8In the year of the month, Germany's inflation rate accelerated to8.8%of40Annual high point. This number reinforces calls for the European Central Bank to accelerate the pace of interest rate hikes at next week's meeting of policy makers ...
Consumer prices in Europe's largest economy, driven by soaring energy and food costs, have risen to8.8%of40Annual high point.

German inflation hit40Strong expectations of a significant interest rate hike by the European Central Bank, with a new high for the year350 / author: / source:FTChinese

As of8In the year of the month, Germany's inflation rate accelerated to8.8%of40Annual high point. This number reinforces calls for the European Central Bank to accelerate the pace of interest rate hikes at next week's policy maker meeting.

The consumer price index of Europe's largest economy is mainly driven by soaring energy and food prices7Monthly inflation rate increases0.4One percentage point, despite recent measures taken by the government to alleviate the impact on families.

These numbers support the call of members of the European Central Bank's management committee that the European Central Bank should be more proactive in responding to the surge in inflation, which has reached the birth of the euro23The highest level since, expected8The month will further accelerate.

Austrian Central Bank Governor Robert Holzmann(Robert Holzmann)Others have publicly called on the European Central Bank to discuss accelerating the pace of interest rate hikes, starting from7The initial interest rate hike in the month0.5One percentage point, raise interest rates to next week's meeting0.75Percentage points.

In recent weeks, the impact of Russia's invasion of Ukraine has caused wholesale prices of natural gas and electricity in Europe to soar to record levels, pushing up the costs of other agricultural products such as fertilizers and wheat.

8In January, energy prices in Germany increased35.6%Rising food prices16.6%。 The core inflation rate, excluding food and energy, has risen3.1%, higher than7Of the month2.8%。

Some European Central Bank interest rate setters worry that with the end of restrictions on COVID-19 earlier this year, the demand shock after the new opening up of the European economy has exacerbated the inflation shock caused by the interference of the Ukrainian war.

Klaus Nott, Governor of the Dutch Central Bank(Klaas Knot)On Tuesday at Dansk Bank in Denmark(Danske bank)At an event hosted in Copenhagen, it was stated that "the economy has performed well, and some factors that helped in the second quarter may continue into the third quarter

The expansion and deepening of inflation issues have given rise to the necessity of taking strong action Nott said. He expects the European Central Bank to start shrinking its balance sheet before the end of this year, and this issue may arise10Month or12The month has been put on the agenda.

Despite various measures taken by the German government, including reducing fuel and energy taxes, as well as providing9Euro monthly ticket subsidies, but Germany's inflation rate continues to rise. Many measures will be taken to9The expiration of the month may lead to further inflation.

Bank of Germany Governor Joachim Nagel(Joachim Nagel)Recently warned that Germany's inflation this year may reach zero1951The first double-digit level since, and it is expected that prices will rise at least next year6%。

Recent business surveys have shown that the supply bottleneck of enterprises has been easing for several months, with many companies reporting an increase in inventory of unsold products due to reduced orders.

But Carsten Bolzesky, head of macro research at Dutch International Group(Carsten Brzeski)This does not mean that inflation will begin to decline. He said, "Although the pricing power of the industrial and service industries seems to have peaked, we still expect the impact of rising costs to continue for several months

Inflation data for Germany - plus Belgium8The monthly inflation rate jumps to9.9%of46Annual high - reinforced expectations that by the time the data is released on Wednesday, the overall price increase in the eurozone may at least reach9%A record breaking level.

However, the Spanish Bureau of Statistics stated that although the prices of electricity, food, dining out, and tourism packages have increased at a "significant" rate8The inflation rate in Spain slightly decreased in the month of10.3%。 It states that Spain's core inflation rate - excluding unprocessed food and energy prices - is as of8During the year of the month, it has increased6.4%Yes1993year1The fastest growth rate since the beginning of the month.
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