Inflation expectations of private households in Germany remained high in October, according to a study by the Deutsche Bundesbank. For the next twelve months, consumers expect an average inflation rate of 8.2 percent, according to information on the Bundesbank website.
This corresponds to the value of the previous month and is a record high since the survey began in 2019. Average inflation expected over the next five years has increased slightly to 6.0 percent. The European Central Bank (ECB) aims for an inflation rate of 2% in the euro area in the medium term.
Inflation at record high
In October inflation even amounted to 10.7 percent. This is a record value since the introduction of the euro. The ECB has raised its key interest rates by a total of two percentage points since the summer. The tightening follows a period of hesitation, as the central bank has long viewed the rise in inflation as a temporary affair.
Source: Krone
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