Germany’s economic downturn rose to 2.4% in May, an increase of more than two years, which could spark a debate over whether Europe’s finances could lead to more economic stagnation in the region.
The Bureau of Statistics said on Monday that consumer connectivity prices reached its final level in October 2018, largely due to a ten-year increase in electricity prices per year.
Self-regulatory commentators in Germany have been fearful of rising prices and are concerned that ECB’s unconstitutional policies are causing the price of living to continue. Bundesbank has predicted that monthly inflation could hit 4% by the end of this year.
Germany’s economic downturn has risen faster than most other eurozone countries since the beginning of the year, driven by short-term changes in German taxes, new carbon taxes and revitalization of the price tags.
Earlier on Monday, the Spanish statistics agency said prices had risen from 2% in April to 2.4% in May, mainly due to rising electricity prices. At the same time, inflation in Italy rose from 1% to 1.3%, the country’s statistics agency said.
Prices for growth rates in the eurozone will be published Tuesday. Economists surveyed by Reuters expect inflation in the bloc to rise from 1.6 to 1.9% in May. This will be in line with what Central Bank of Europe is looking at below 2%, but policymakers are expected not to change their financial mindset when it meets next week.
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