In 2022, German consumer prices are higher than they have been in decades due to higher energy and food prices. It increased by 7.9 percent, the Federal Statistical Office announced on Tuesday. There has never been a greater advantage in a united Germany. In 2021, inflation was still 3.1%.
Inflation fell surprisingly in December. According to the Federal Statistical Office, consumer prices increased by an average of 8.6 percent compared to the same month last year. Inflation in November was 10.0 percent, after jumping to its highest level since 1951 at 10.4 percent in October.
For this year, most experts expect a slight relaxation. The Institute for the World Economy (IfW), for example, expects a decline of 5.4 percent.
An unexpected sharp fall in inflation at the end of the year gives hope that the sharp rise in prices will subside: lower energy prices and the government’s advance payment for natural gas allowed consumer prices to rise only 8.6% in December compared to the same month. last year. Inflation eased to 10.0% in November after jumping to a high of 10.4% in October, the highest level since 1951. Economists polled had expected a decline to just 9.1% in December. From November to December, prices fell by 0.8 percent.
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