FRCN HQ
Europe Headline News World News

German inflation highest in 25 years

Central Bank of Germany. Photo: Premium Times

Germany’s inflation in September is the highest the country has seen in more than a quarter of a century, precipitated by high energy prices.

Analysts have warned that the energy crisis is yet to have a full impact on the nation.

According to Reuters, Consumer prices, harmonised to make them comparable with inflation data from other European Union countries (HICP), increased by 10.9% on the year, the federal statistics office said.

A Reuters poll of analysts have predicted a rise of 10.0%.

Comparing data since 1996, this is the highest.

The increase was due to higher costs for energy – which were 43.9% higher compared with September 2021 – after a popular cheap transport ticket offer and a fuel tax cut expired at the end of August.

Writing by Muzha Kucha