7/23, 6:28 PM (Source: TeleTrader)
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Germany's inflation to reach 5% by 2022 - Buba

President of the Deutsche Bundesbank Jens Weidmann said in an interview with FAZ on Friday that central bank analysts forecast inflation rates to rise up to 5% in Germany towards the end of 2021.

"Temporary effects are mainly at work here. These include energy and raw material prices and, in Germany, for example, the reduction in value-added tax that was taken back last year," he said.

Weidmann noted that he still sees the sharp inflation increase as temporary, but the future is still very uncertain. However, price pressures related to supply bottlenecks, especially in the semiconductor sector, could be more persistent.

Breaking the News / LH