A German Recession "Increasingly Likely" Fueled by Gas Crisis: Bundesbank

A recession in Germany is increasingly likely and inflation could peak at 10% in Autumn in large because of the gas crisis according to Bundesbank today in a monthly report.

• "Declining economic output in the winter months has become much more likely," the central bank said. "The high degree of uncertainty over gas supplies this winter and the sharp price increases are likely to weigh heavily on households and companies."
• "Overall, the inflation rate could reach 10% in autumn," the Bundesbank said. "The upside risk for inflation is high, in particular in the event of a complete stoppage of gas supplies from Russia."