French and German central banks cut inflation projections for next two years
French, German central banks: prices will rise but more slowly than previously thought
France and Germany's central banks both revised their inflation forecast for 2016 downwards from earlier efforts today (December 4). Falling energy prices were the key factor in driving expected inflation down, the banks said.
The Deutsche Bundesbank predicted the annual harmonised index of consumer prices (HICP) for Germany would reach 1.1% in 2016, a significant fall from its June prediction of 1.8% for the year.
It said this was largely due to "the renewed downturn in crude oil prices, which
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