According to a recent report by Germany’s Federal Statistical Office, the country is now facing its highest annual inflation rate in over 70 years.
The office published its initial data on January 5, 2023, which highlighted how full-year inflation shot up to 7.9% in 2022 in the middle of rising energy and food prices. The last time Germany experienced such a level of inflation was in 1951, when inflation was hovering at 7.6%. For perspective, the annual inflation rates stood at 3.1% in 2021.
In October, inflation in Germany reached a record 10.4% before falling to 10% in November.The Russo-Ukrainian conflict […]
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