The inflation rate in Germany increased sharply to 5.2% in November, from 4.5% in the prior month.
- Consumer prices fell slightly by 0.2% in November compared to the prices posted in October 2021.
- Dr. Georg Thiel, president of the Federal Statistical Officer stated that such a higher inflation rate was last recorded 30 years ago.
- The high inflation rates in the 2nd half of 2021 are attributable to base effects due to low prices recorded in 2020.
- Crisis-related effects, including delivery constraints, were becoming stronger, accounted for in the consumer price index.
- Prices of goods posted an above increase of 7.9% from November 2020 to November 2021, largely due to the increase in energy product prices.
In November 2021, the consumer price index dropped by 0.2% compared to the data reported in October 2021, attributable to lower package holidays prices.
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Source: Federal Statistical Office