Inflation in Germany has stabilized
2023.01.03 08:50
Inflation in Germany has stabilized
Budrigannews.com – As a result of falling energy costs and the government’s one-time payment of household energy bills, German inflation fell in December for a second month in a row. However, analysts warn that a continued slowdown is not a given.
According to preliminary data released on Tuesday by the Federal Statistics Office, German consumer prices increased by 9.6% in December, compared to other countries in the European Union. According to Reuters polls of analysts, annual inflation would rise by 10.7% in December.
Harmonized inflation increased 11.6% year-over-year in October, making it the highest reading since comparable data from 1996. With an increase of 11.3%, November saw a slight decrease.
Contrasted and November, costs diminished by 1.2%. Investigators had anticipated a fall of 0.5% on the earlier month.
The war in Ukraine has primarily contributed to the annual increase in costs for food and energy.
The office reported that food prices had increased by 20.7 percent while energy prices had somewhat eased in December, but they were still up 24.4% from the same time last year.
The statistics office says that a one-time payment for household energy bills in December lowered prices as part of the government’s efforts to protect consumers.
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