Inflation rate in Germany rises to 4.5% – economy

The inflation rate in Germany is expected to be 4.5% in October 2021. This was announced by the Federal Statistical Office (Destatis) on the basis of the results available to date. This means that consumer prices are expected to rise 0.5% from September 2021.

In September, inflation in Germany jumped 4.1% for the first time in nearly 28 years above the 4% mark. This development is explained by certain special statistical effects linked to the temporary reduction of VAT during the year Corona 2020 and, above all, to the global rise in the prices of energy and certain raw materials as well as intermediate products. industrial. German manufacturers’ prices are climbing from record to record – most recently in September, they rose 14.2 percent and therefore more sharply than in almost 47 years.

Due to significantly higher prices for oil, gas and some groceries such as coffee, German imports also increased by 17.7 percent, more than they were in over 40 years. This data is seen as a precursor to consumer prices, and experts expect inflation in goods and services to rise by around 5% by the end of the year.

About 73 percent of Germans criticize the inflation trend, as shown in a survey by the German Association of Savings and Credit Transfers (DSGV). Rising prices are dangerous, warned DSGV chairman Helmut Schleweis. “This should not be minimized as a temporary effect after the Corona crisis.”

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