Nagel Warns Low German Gas Inventories Could Stoke Winter Inflation
Updated
Updated · Bloomberg · Oct 5
Nagel Warns Low German Gas Inventories Could Stoke Winter Inflation
1 articles · Updated · Bloomberg · Oct 5
Summary
Joachim Nagel said Germany was too slow to refill natural-gas storage after last winter, criticizing the pace of inventory rebuilding this spring and summer.
Low inventories could force Europe into costly gas purchases in winter, he said, raising the risk that energy prices feed through into higher inflation.
Speaking in Sorrento on Monday, the Bundesbank president said it was strategically unwise not to accelerate refilling once storage levels had fallen after the previous winter.