Germany's inflation rate 2022 has been the worst in more than 30 years -
Germany's inflation rate 2022 has been the worst in more than 30 years -
in one year that was characterized by rising energy and food prices, the average inflation rate in Germany in 2022 increased to 7.9 % compared to 3.1 % in 2021. Russia's invasion of Ukraine and the supply bottlenecks caused by the war are called the factors that are helped to drive up prices.
Effects of the Ukraine Russia War
In 2022, the average inflation rate in Germany was over 7.9 %, the highest level since the reunification in 1990, the state's statistical office said. According to the report by the German Press Agency on January 3, the rate is more than twice as high in 2022 as 3.1 % in 2021.
loud test report , rising energy and food prices were among the main drivers of inflation for several months. According to reports, the Federal Statistical Office (BFS) has expected the invasion of Russia into Ukraine and the resulting delivery bottlenecks as two key factors for record inflation.
"In December, consumers in Germany had to pay 24.4 % more for energy than a year earlier. Food prices rose by 20.7 % within one year," explains the agency's report.
Germany's monthly inflation slows down
Although the so-called worst total inflation rate in the country has been recorded in 1951 in 1951, the BFS data indicate that the monthly rate had fallen to 8.6 % in December 2022. Before that, the rate was on average 10.4 % and 10 %. , in October or November.
In order to minimize the effects of rising prices on the population, the federal government is reportedly planning "billions of dollars". This should also be achieved by using "price brakes for electricity and gas". According to the report, some economists are optimistic that such steps will contribute to taming inflation in 2023.
What do you think about this story? Let us know your opinion in the comment area below.
Bedy verification : Shutterstock, Pixabay, Wikicommons
Kommentare (0)