Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

Inflation soars in Germany

Share this article

Inflation soars in Germany
Photo: DPA
08:42 CET+01:00
German inflation set a 14-year record last year of 2.6 percent, final figures released on Thursday by the national statistics office showed, a result of higher costs for petrol and food.

The last time consumer prices rose by that much in a year was in 1994, the Destatis statistics office said.

Energy prices gained 9.6 percent on the year, while food cost 6.4 percent more, Destatis said.

An additional factor was the increase in 2007 of Germany's value added tax, the effects of which took a few months to feed into the economy.

In December however, inflation was just 1.1 percent on a 12-month basis, the lowest level since October 2006, Destatis said, owing to a sharp drop in oil prices.

Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

Zagreb: Spend this summer in Croatia's vibrant capital city

Lush green parks throughout the city centre, imposing heritage buildings, real Central European cafe society and Mediterranean style hospitality. Welcome to Zagreb, Croatia's stunning capital!

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement