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German Inflation Breaks Through 2% for First Time Since 2019
Germany’s inflation rate rose above 2% for the first time in two years, boosted mainly by energy costs. Consumer prices also increased sharply in Spain -- by 1.9% from a year earlier -- and are expected to pick up in France and Italy. A euro-area report due on Friday is set to show the rate reaching 1.5%, the highest since 2019. While some analysts foresee a new era of higher inflation after the pandemic, fueled by pent-up demand and a glut of savings boosted by massive fiscal support to households, the European Central Bank predicts any pickup will be temporary. It has noted that price gains this year have largely ... (full story)