Inflation pushes Germany into recession with Europe’s largest economy shrinking

INFLATION has pushed Germany into recession in the first three months of the year.

Europe’s largest economy shrank by 0.3 per cent from January to March — after contracting by 0.5 per cent in the last three months of 2022.


Leader of opposition party CDU said the news should wake up German Chancellor Olaf Scholz (pictured)Credit: EPA

The country’s inflation rate stood at 7.2 per cent in April, above the euro area’s average but below the UK’s 8.7 per cent.

Germany was badly affected when Russian gas supplies dried up following the invasion of Ukraine, analysts said.


Read more on thesun

Written by bourbiza mohamed

Nine people arrested over Cardiff riots that were sparked by death of two teenagers in e-bike crash

Horoscope today, May 26, 2023: Daily star sign guide from Mystic Meg