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German inflation ‘could top 10 percent’

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Germany’s inflation rate could surge over 10 percent this autumn, the highest in 70 years, the country’s central bank chief Joachim Nagel told the Rheinische Post on Saturday. His comments came just after Russian state gas giant Gazprom announced an unscheduled three-day shutdown of the key Nord Stream 1 pipeline that sends natural gas to Europe from 31 August to 2 September.

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