Bundesbank: Recession is becoming increasingly likely

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The Bundesbank reported that the German economy is increasingly likely to enter recession

In its monthly report published today, the German Central Bank (Bundesbank) reported that the German economy is increasingly likely to enter recession.

The Bundesbank also predicted that inflation will continue to accelerate in Germany, the largest economy in the Eurozone, and predicted that inflation will peak at 10 percent this fall.

“It has become much more likely that production in the economy will decline in the winter months,” the Bundesbank said, adding, “The high degree of uncertainty about gas supplies for this winter and sharp price increases are likely to put heavy pressure on households and companies.”

In its report, the Bundesbank also emphasized that the upside risks for inflation are high, especially if gas supplies from Russia stop completely, inflation could exceed expectations.

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