In its spring forecast, Germany’s government raised the 2022 inflation forecast to 6.1% vs. 3.3% seen in January, Reuters reports, citing a document obtained from the government sources.
Meanwhile, the government sees the 2023 German Consumer Price Index (CPI) at 2.8%.
The German government sees nominal consumer spending at +9.7% and +4.8% in 2022 and 2023 respectively, Reuters said.
Market reaction
EUR/USD was last seen trading at 1.0740, down 0.50% so far.
