Germany. Inflation rises after Odra. In November it may reach as much as 6 percent

We read in the Bundesbank’s statement that in the middle of the last quarter of 2021, the dynamics of economic growth will slow down sharply. “Disrupted supply chains, turmoil in the Chinese market and the autumn pandemic crisis – this will contribute to the economic slowdown” – expects the German issuing bank.

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How is Germany responding to rising inflation?

Federal Bank analysts add that the high level of inflation is a global phenomenon, although in Germany it is also associated with the actions of the federal government during the pandemic. In June 2020, a decision was made in Berlin to reduce VAT. This was supposed to temporarily increase purchasing power and fuel the German economy, which was torn apart by months of lockdowns.

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From January 2021, the VAT rate in Germany is again 19 percent for most goods and services and 7 percent for everyday items. “The effect of these measures will expire at the beginning of 2022, and then inflation will start to fall. The consumer will not feel the rising prices of gas and electricity until later,” we read.

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Inflation at its highest in 30 years

The last time the price increased by more than 4 percent. Germany recorded in June 1992. In September, inflation in our western neighbors amounted to 4.1% in September. year on year (against 3.9% in August). The indicator has been growing for many months, and in June this year it was 2.3%. Last month, they conquered, among others, energy prices which increased by 14.3% year on year (both household energy and fuel prices for private cars are included here). The price of food increased by 4.9 percent, and services by 2.5 percent.

Inflation in the EU has accelerated.Germany with the largest price increase in 29 years. What will Polish inflation look like?

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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