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15.02.2021 - Studies

Q4-2020: Monetary and fiscal policy drive inflation

by Philipp Immenkötter

Despite the pandemic and the recession, the demand for as-sets in Germany remains high. Asset price inflation for 2020 is at +6.3%. The fiscal and monetary policy responses to the pan-demic made a decisive contribution to this development. Consumer prices, on the other hand, stagnated over the same period.

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