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Germany: Inflation continues to rise – highest level in almost 30 years

Thursday, 01/06/2022 2:19 PM from

dpa-AFX

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Flag of the Federal Republic of Germany. pixabay.com

WIESBADEN (dpa-AFX) – In December, inflation in Germany rose to its highest level in almost 30 years. Consumer prices rose by 5.3 percent compared to the same month last year, as the Federal Statistical Office announced on Thursday after an initial estimate. A higher rate of inflation was last measured in June 1992 at 5.8 percent at the time.

Analysts were surprised by the renewed rise in inflation in Germany. They had expected a slight decrease in the inflation rate to 5.1 percent. In November the annual rate was 5.2 percent.

With the European calculation method (HICP), however, there was a decline in the inflation rate. Here the Federal Office reports an annual rate of 5.7 percent for December, after 6.0 percent in November.

At the end of last year, people in Germany had to dig deep into their pockets again for energy. Household energy rose by 18.3 percent within a year. The rise in food prices was also above average. The year-on-year increase was 6.0 percent./jkr/jsl/mis

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