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    Inflation rate in Germany is expected to reach 5.3% in December 2021

    According to the Federal Bureau of Statistics (Destatis), Germany’s inflation rate, measured as a year-on-year change in the consumer price index (YoY), was expected to reach 5.3% in December 2021. Consumer prices were expected to rise 0.5% compared to November 2021. On average, the inflation rate in 2021 is expected to be 3.1%.

    In a press release, Destatis said there are many reasons for high inflation since July 2021. This includes the fundamental impact of low prices in 2020.

    In this regard, especially temporary VAT cuts and sharp declines in mineral oil product prices have had a positive impact on current overall inflation.

    According to the Federal Bureau of Statistics, Germany’s inflation rate, measured year-over-year in the consumer price index, was expected to reach 5.3% in December 2021. Consumer prices were expected to rise 0.5% compared to November 2021. On average, the inflation rate in 2021 is expected to be 3.1%.

    Apart from normal market trends, additional factors are the introduction of carbon dioxide pricing in January 2021 and crisis-related effects such as significant price increases early in the economic process.

    So far, only some of these rises have had a moderate impact on the consumer price index and inflation.

    Fiber2Fashion News Desk (DS)

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    Inflation rate in Germany is expected to reach 5.3% in December 2021

    Source link Inflation rate in Germany is expected to reach 5.3% in December 2021

    The post Inflation rate in Germany is expected to reach 5.3% in December 2021 appeared first on Eminetra.

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