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Scholz says action must be taken if inflation doesn't ease

Germany's incoming chancellor, Olaf Scholz, said his government will need to take action if inflation doesn't ease from its current high.

Germany's incoming chancellor Olaf Scholz. Foto: AP

Rising prices in Europe's biggest economy are a result of generous government spending to address the coronavirus pandemic as well as spiking energy costs, and they can't be accepted over the longer term, Scholz said Tuesday in an interview with Bild TV. He referred to analysts' predictions that inflation, now at 6%, is set to ease.

"If that isn't the case, we have to do something," Scholz said, without specifying what that action might entail. "We should not be aiming for high inflation like we have today," he said, adding that price developments "must be very, very closely monitored" in case forecasts that they will ease are wrong...

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