Inflation in Germany was 3.1 percent of 2021. This is stated on the website of the Federal Statistical Office.
This is a record high since 1993. The key reason is the rise in energy prices and fuel, which rose by 10.4 percent. Food prices jumped by 3.2 percent.
Only in December last year, inflation in the main economy of Europe rose by 5.3 percentage points. In 2020, when there was a pandemic first wave, annual inflation in Germany was 0.5 percent. In general, the prices in the eurozone countries have staged a record since the world’s global financial crisis.
According to Eurostat, in October 2021, inflation in the eurozone was 4.1 percent in annual terms, which is higher compared to 3.4 percent in September. The inflation jump has twice the target indicator of the European Central Bank (ECB) in two percent. According to ECB, inflation is due to the increase in the cost of fuel, as well as higher demand, leading a proposal.