Germany Is Expected to Face Stagnation in the Second Quarter and Higher Prices Due to the War in Iran, Says the Central Bank.

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German inflation accelerated to 2.9% in April, from 2.8% in March, year-on-year, according to preliminary data for last month, driven largely by a rise in oil and gas prices.

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The central bank recalls that consumer confidence has deteriorated significantly in Germany since the outbreak of the war (on 28 February) and that income expectations have fallen sharply at sea and April, while expectations of prices have risen.