Free Republic

Inflation rates in Germany could hit double digits in the autumn months, according to estimates by the head of Germany's central bank, Joachim Nagel. As government measures to curb inflation like substantial cuts in the taxes imposed on petrol and diesel and a standard ticket price of €9 ($9.50) for most rail travel are running out, Germany's inflation rate is set to rise by a good percentage point, Nagel told the Rheinische Post newspaper's Saturday edition. However, the government is planning to lower value-added tax (VAT) on gas from 19% to 7% in order to aid consumers, to mitigate the...