The German economy might face a recession this winter, and inflation is likely to be double-digit in the fall, President of the Deutsche Bundesbank (Central Bank of Germany) Joachim Nagel told Rheinische Post, Report informs.
According to Nagel, this will happen if the energy crisis worsens. He is assured that inflation in Germany can exceed 10%.
At the same time, the head of the German Central Bank added that the measures taken by the German Government to reduce the consequences of high inflation, including the discount on gasoline, are gradually being canceled.