German inflation reached record 7.9% in 2022
- Economy
- DPA
- Published Date: 05:08 | 03 January 2023
- Modified Date: 05:08 | 03 January 2023
Inflation in Germany rose last year to its highest level since reunification in 1990, with consumer prices rising by 7.9% on average in 2022 compared to the previous year, said the Federal Statistical Office.
In comparison, consumer prices in 2021 in Germany had risen by an average of 3.1%.
Energy and food have been the main price drivers for months. The Russian invasion of Ukraine as well as supply bottlenecks have exacerbated the already tense economic situation following the global pandemic.
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.
In comparison, consumer prices in 2021 in Germany had risen by an average of 3.1%.
Energy and food have been the main price drivers for months. The Russian invasion of Ukraine as well as supply bottlenecks have exacerbated the already tense economic situation following the global pandemic.
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.
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