The three parties in Germany's ruling coalition have agreed on a new economic relief package to help consumers cope with recent steep price rises, German news agency dpa reported.

Germany will spend 65 billion euros ($64.7 billion) on its third package designed to shield consumers and businesses from the impact of soaring inflation, the government said in a document issued on Sunday.

The measures, which includes proposals for an extension to discounted public transport and 1.7 billion euros in tax breaks for 9,000 energy-intensive companies, were agreed by the three parties in Chancellor Olaf Scholz's governing coalition on Sunday.

"This is the biggest of the three packages so far," Scholz told a news conference.

Germany would have sufficient energy to see it through to next year, Chancellor Olaf Scholz said Sunday, after Russia stopped supplies of gas to Europe via the Nord Stream 1 pipeline.

The government had made "timely decisions" to avoid a winter crisis, Scholz said, including filling gas stores and restarting coal power plants. "We will get through this winter," the chancellor added.

(With input from Reuters)