Inflation rate low until 2021: Inflation continues to fall in Germany

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“The inflation rate has weakened for the fifth month in a row,” Authority boss Ruth Brand said. In October, consumer prices had increased by 3.8 percent in a year. Annual inflation was 4.5 percent in September and 6.1 percent in August.

At the beginning of this year, there was even an 8 in front of the decimal point. In November, the inflation rate reached its lowest level since June 2021, at 2.4 percent.

Energy costs were 4.5 percent lower in November than a year ago, reducing the inflation rate. According to statistics, heating oil (-19.4%) and natural gas (-18.3%) were significantly cheaper. Accordingly, in November 2023, electricity was 1.6 percent more expensive than the same month last year.

According to verified data, food prices increased by 5.5 percent, above average. However, the increase is no longer as strong as in previous months. Consumers had to pay significantly more than a year ago, especially for fruit (+12.0%) and sugar, jam, honey and other confectionery products (+11.9%).

According to statisticians, consumer prices decreased by 0.4 percent in November compared to the previous October.

Increasing prices put consumers in a difficult situation. People can get less for their money. This slows down private consumption and thus an important pillar of the German economy.

(SDA)

Source :Blick