Well, Germany may soon enjoy double (and triple) digit price gains quite soon.

When asked by Frankfurter Allgemeine Zeitung about the possibility of double-digit inflation rates, Volker Wieland, a member of the German government's council of economic advisers said that "it can't be ruled out, especially if Russia stops oil and gas deliveries or if there's a total import embargo, then I think inflation rates in this magnitude would be conceivable."

Now if only Germany hadn't allowed its energy policy to be determined by a petulant, publicity obsessed Swedish teenager, and if the country actually had some strategic views on how to maintain at least some energy independence, none of this would have happened (as we warned last summer in "Will ESG Trigger Energy Hyperinflation"). Unfortunately that wasn't the case.