Germany's 2022 Inflation Rate the Worst in More Than 30 Years
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In 2022, Germany’s average inflation rate topped 7.9%, its highest since the 1990 reunification, the country’s statistical office has said. As per the German press agency’s Jan. 3 report, the 2022 rate is more than double the 3.1% seen in 2021.
According to the report, rising energy and food prices were among the main drivers of inflation for several months. As expected, the German Federal Statistical Office (FSO) reportedly identified Russia’s invasion of Ukraine, as well as the ensuing supply bottlenecks, as two key factors that led to the record inflation rate.
“Consumers in Germany had to pay 24.4% more for energy in December than a year earlier. Food prices rose by 20.7% within a year,” the agency’s report explained.https://news.bitcoin.com/germanys-2022-inflation-rate-the-worst-in-more-than-30-years/
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