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Bundesbank revises German 2015 inflation forecasts lower

FXStreet (Mumbai) - The latest Bundesbank report released today showed the German central bank revised the 2015 the Harmonised Index of Consumer Prices (HICP) lower to 0.2% from the previous forecast of 0.5%.

The Bundesbank's economists expect Germany’s real gross domestic product (GDP) to grow by 1.7% this year, followed by a rise of 1.8% in 2016 and 1.7% in 2017.

On inflation

“Consumer price inflation will accelerate as the dampening effect of crude oil prices on inflation gradually peters out. This should more clearly reflect the feed-through of rising domestic cost pressures in the price level.”

On growth

“Export markets outside the euro area expected to rebound and economic growth within the euro area gaining a little more traction, the healthy underlying state of the German economy should stand out even more clearly over the next two years."

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