Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iranian Shura Council recommends the closure of the Hormuz Strait and leaves the decision up to the Iranian National Security Council.
IRGC Commander Major General Mohammad Pakpour: As time passes, the people's solidarity increases, which is a divine blessing
IRGC Commander Major General Mohammad Pakpour: The Iranian Revolution Guard Corps' aerospace operations will not stop
Russian Foreign Ministry: IAEA Director General Rafael Grossi must ensure that an objective report is presented at the special session of the International Atomic Energy Agency (IAEA)
Russian Foreign Ministry: The UN Security Council must respond to the US attacks on Iran
Russian Foreign Ministry: We strongly condemn the US strikes on Iran, calling the decision irresponsible
Iranian Red Crescent: Three personnel martyred, 29 injured in Israeli aggression
IRGC: We have identified and monitored the departure points of the US aircraft that carried out the aggression
IRGC: America has neither the initiative nor the ability to escape the consequences of a powerful response
IRGC: We strongly affirm that Iran's peaceful nuclear technology cannot be destroyed by any attack

German inflation to remain high until end of 2024

  • By Al Mayadeen English
  • Source: Agencies
  • 25 Dec 2022 13:55
3 Min Read

Inflation in Europe's largest economy is here to stay.

  • x
  • German inflation to remain high until end of 2024
    An 'aerial' shot of a supermarket in Germany. 

The inflation in Germany is likely to remain high until the end of 2024 as the country's as companies spill their rising costs onto customers, the government's senior economic aide warns. 

Read next: Intel U-turns on plan to kickstart chip manufacturing plant in Germany

"Inflation will also be an issue in 2024, and only thereafter will we maybe see it returning to 2%," Monika Schnitzer, who heads the council of economists that advises the German government said.

"Inflation is remaining high because we are seeing second round effects, with companies passing on their higher costs - and some significantly exaggerating," she added, according to Rheinische Post newspaper.

In November, Germany's inflation stood at around 11.3% running high at its fastest pace since the early 1950s. Schnitzer stated she was concerned about the high electricity prices, saying that it's urgent that the government checks whether it would make sense to let the remaining 3 nuclear plants run for 2 to 3 years beyond planned. 

"It would make sense to quickly order new fuel rods now, that would give us more security next winter," she added.

Related News

Over 1.7mln UK homes won't turn on heating this winter

Economists warn of worse days to come for Germany: The Telegraph

In October, Germany decided to extend the lifespans of the remaining three nuclear plants until April to accommodate to the energy crisis in the country. 

On November 29, Qatar agreed to supply Germany with two million tons of liquefied natural gas (LNG) a year for at least 15 years, as Germany attempts to replace all energy imports by mid-2024 as part of a Russia isolation policy. This deal, however, has been criticized as it only replaces 3% of the total need for LNG in Germany.

In the publicly-announced agreement between Qatar and Germany, the latter will receive two million tonnes of LNG at Brunsbüttel, which will be delivered, according to Qatar's Energy Minister Saad Sharida al-Kaabi, by American energy firm ConocoPhilipps. 

German Economy Minister Robert Habeck said the 15-year term of the deal was "great".

But the head of energy analytics, Andreas Schroeder, considered that the starting date of 2026 was late, as Germany needed LNG for 2023 and 2024.

"If German players do not secure sufficient volumes at an OK price for 2023, they will have to revert to spot LNG markets, and expose themselves to global price volatility," he pointed out.

On that note, German MP Kaus Ernst commented on the Qatar-Germany LNG agreement saying that the deal does not offer real alternatives to Russian gas.

  • Inflation in Europe
  • Europe
  • Economic inflation
  • inflation
  • Germany

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025
Iran's heavy barrages impact multiple Israeli targets overnight

Iran's heavy barrages impact multiple Israeli targets overnight

  • Palestine
  • 18 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Iran’s Bavar-373 air defense system on display during a military drill (Mehr News Agency)
Politics

Iran intercepts Israeli drones near Tehran, multiple cities

The Israeli Iron Dome air defense system fires to intercept missiles during an Iranian attack over Tel Aviv, Occupied Palestine, Sunday, June 15, 2025 (AP)
Politics

Iran warns aid to 'Israel' will be treated as aggression

US President Donald Trump arrives to board Air Force One at Joint Base Andrews, Friday, June 20, 2025, en route to Montclair, New Jersey (AP)
Politics

Trump, Erdogan made covert attempts to hold talks with Iran: Axios

Ansar Allah supporters surround a giant Iranian flag during an anti-US and anti-'Israel' weekly rally in Sanaa, Yemen, Friday, June 20, 2025 (AP)
Politics

US ships in Red Sea will be targeted if US attacks Iran: YAF

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS