Oil Price Surge Hits German Consumers As Headline Inflation Reaches A Two-Year High

ING Economic and Financial Analysis5.29K FollowersFollow5ShareSavePlay(8min)CommentsSummarySoaring energy prices have pushed German headline inflation close to 3%.Oil prices have always been the most important and direct link between geopolitical developments and the real economy.When looking at possible next steps for the European Central Bank, markets have started to price in up to four rate hikes this year.Today's German inflation data shows that, for the time being, the new inflation wave stemming from the war in the Middle East is 'only' an energy price shock. J Studios/DigitalVision via Getty Images By Carsten Brzeski, Global Head of Macro Soaring energy prices have pushed German headline inflation close to 3% This shouldn’t be a surprise to anyone. As the war in the Middle East has entered itsThis article was written byING Economic and Financial Analysis5.29K FollowersFollowFrom Trump to trade, FX to Brexit, ING’s global economists have it covered. Go to ING.com/THINK to stay a step ahead. We’re sorry we can’t reply to individuals' comments.Content disclaimer: The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.This publication has been prepared by ING solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. For our full disclaimer please click here.