{"id":1413081,"date":"2022-03-31T13:45:15","date_gmt":"2022-03-31T17:45:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1413081"},"modified":"2022-03-31T13:45:21","modified_gmt":"2022-03-31T17:45:21","slug":"german-inflation-hits-highest-level-since-fall-of-berlin-wall-growth-forecasts-cut-in-half","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/german-inflation-hits-highest-level-since-fall-of-berlin-wall-growth-forecasts-cut-in-half\/","title":{"rendered":"German Inflation Hits Highest Level Since Fall of Berlin Wall, Growth Forecasts Cut in Half"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgerman-inflation-hits-highest-level-since-fall-of-berlin-wall-growth-forecasts-cut-in-half%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1413081&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">Germany is experiencing the highest level of inflation since the country was reunified in 1990 after the fall of the Berlin Wall and economic growth projections have been cut in half amid the ongoing war in Ukraine.<\/p>\n<p>On Thursday, Germany\u2019s\u00a0federal statistics agency Destatis revealed that inflation has risen by 7.3 per cent over this time last year, up from 5.1 per cent in February.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>\u201cSince Russia\u2019s attack on Ukraine, the prices of natural gas and mineral oil products have markedly increased again and have had a considerable impact on the high rate of inflation,\u201d the office <a href=\"https:\/\/www.dw.com\/en\/germany-inflation-hits-30-year-high-at-73-growth-outlook-dims\/a-61301850\">said<\/a> according to public broadcaster Deutsche Welle.<\/p>\n<p>The government\u2019s panel of independent economic advisors have also slashed the economic growth projections, predicting that Germany\u2019s\u00a0gross domestic product (GDP) will only grow by 1.8 per cent, compared to the 4.6 per cent prediction from the same panel in November.<\/p>\n<p>\u201cWe were already having a bad time thanks to the omicron wave and now things are even more bleak,\u201d Monika Schnitzer of the German Council of Economic Experts said.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>In its report the economic panel added:\u00a0\u201cThe high dependence on Russian energy supplies entails a considerable risk of lower economic output and even a recession with significantly higher inflation rates.\u201d<\/p>\n<p>Therefore they called for Germany to immediately make moves to end its dependency on Russian gas and for the government to bolster energy security through increased investments in green energy and to seek other countries to partner with for importing energy.<\/p>\n<p>Germany has agreed in principle to a gas deal with the Islamic kingdom of Qatar, however, because of a lack of infrastructure at its seaports and no pipeline connecting the two countries, it is unlikely that any significant amount of gas shipments will be coming to Germany before 2026.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Germany\u2019s Addiction to Russian Gas Sees Energy Prices Double in February<a href=\"https:\/\/t.co\/wgJYtWy12V\">https:\/\/t.co\/wgJYtWy12V<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1508911880802242560?ref_src=twsrc%5Etfw\">March 29, 2022<\/a><\/p>\n<\/blockquote>\n<p>In response to the growing energy crisis in Europe, the German government warned this week that emergency measures may soon need to be put in place, raising <a href=\"https:\/\/www.breitbart.com\/europe\/2022\/03\/30\/speculation-of-rationing-as-german-minister-prepares-emergency-measures-over-gas-supply\/\">speculation that gas rationing<\/a> could be around the corner for the economic powerhouse of Europe.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>On Thursday, business leaders in the country warned that rationing of energy could have disastrous impacts on the economy, particularly for complex industries such as chemical production \u2014 a key German export.<\/p>\n<p>The head of the German Chemical Industry Association (VCI) and the head of specialist chemicals company Evonik, Christian Kullmann, <a href=\"https:\/\/www.dw.com\/en\/german-industry-gas-rationing-plan-would-cripple-economy\/a-61302394\">said<\/a> that plants are incredibly complex and therefore \u201ccan\u2019t just be switched off and on again like a microwave oven.\u201d<\/p>\n<p>\u201cOnce chemical plants are shut down, they\u00a0remain silent\u00a0for weeks and months,\u201d he explained, warning that rationing gas for such plants could result in a \u201chuge domino effect through almost all industries.\u201d<\/p>\n<p>The president of the IG BCE chemical workers union, Michael Vassiliadis added that:\u00a0\u201cThe consequences would not only be reduced work hours and job losses, but also the rapid collapse of the industrial production chains in Europe \u2014 with worldwide consequences.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Germany Suffering \u2018In the Most Brutal Way\u2019 Over Russian Gas Addiction \u2013 Minister<a href=\"https:\/\/t.co\/h87ZPPVIRd\">https:\/\/t.co\/h87ZPPVIRd<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1509455464827961346?ref_src=twsrc%5Etfw\">March 31, 2022<\/a><\/p>\n<\/blockquote>\n<p><em><strong>Follow Kurt Zindulka on Twitter here <a href=\"https:\/\/twitter.com\/KurtZindulka\">@KurtZindulka<\/a><\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Germany is experiencing the highest level of inflation since the country was reunified in 1990 after the fall of the Berlin Wall and economic growth projections have been cut in<\/p>\n","protected":false},"author":123,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1413081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1413081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/123"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1413081"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1413081\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1413081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1413081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1413081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}