Germany helpless in face of accelerating inflation

In December 2021, annual inflation in Germany made up 5.3%, DekaBank told Report.

Last year, annual inflation increased by 0.1 percentage points compared to November.

According to the German Federal Statistical Office, this is the highest annual inflation since 1992. The record annual rate of price increase in German history was 7.6% in 1951.

Annual inflation of 5.3% has caused a "price shock" in the country. Last month, energy prices rose by 18.3%, consumer prices by 6%, and service prices by 3.1%.

Among individual regions of Germany, Brandenburg is the federal state with the highest annual inflation (3.6%) and Berlin (2.8%) the lowest.

In a press release, Ulrich Kater, chief economist at DekaBank, said that if the government does not take urgent measures, it will increase the unsolvable problems.

The country's daily newspaper Bild reported that the government was helpless in the face of accelerating inflation.